Business

NUPRC to deploy modern technology to curb oil theft

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is in the process of upgrading and deploying the National Production Monitoring System (NPMS) facility towards curbing crude oil theft in Nigeria.

Gbenga Komolafe, Chief Executive, NUPRC, spoke recently in Abuja on efforts by the commission to address the menace of crude oil theft.

He said the deployment of NPMS, which is an electronic system that is used to monitor oil and gas production in Nigeria was being carried out in collaboration with other relevant agencies.

According to him, this ensures accurate and reliable reporting of crude oil production.

He noted that the National Data Repository (NDR) within the NUPRC serves as the data warehouse for Nigeria’s oil and gas industry.

Komolafe said: “The Value of Information (VOI) is for purpose of oil and gas investment decision.

“For example, NDR facilitates data for bid rounds in line with the statutory mandates of the NUPRC under the PIA to prospective investors, thus enabling informed investment decision and shortening upstream business lifecycles.”

Furthermore, Komolafe hinted that NUPRC had taken technological advancements into consideration in its work processes.

The NUPRC boss posited that currently, the Technological Adaptation Unit within Engineering and Standards Department engages service providers on new technologies that can be implemented in the Nigerian Petroleum Industry.

“In addition, we have established more data-related initiatives in the NDR such as National Improved Oil Recovery Centre (NIORC) focussed on utilising big data to drive the reduction in cost per barrel.

“Also, the Integrated Data Mining and Analytics Centre (IDMAC) was set up to assess and analyse data for informed business decisions,” he said.

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