Nigeria Upstream Petroleum Regulatory
Commission (NUPRC) chief executive, Gbenga Komolafe said that 139 companies have been shortlisted for the next stage of gas flaring commercialisation programme as part of plans to reduce carbon emissions.
Komolafe disclosed this in a statement on Tuesday, saying that the 139 were shortlisted out of 300 companies.
He did not say when the next phase would commence.
NUPRC had in November called for companies to apply to the gas buying and trading scheme to reduce the flaring of gas from oil production facilities.
“Following the successful conclusion of the SOQ evaluation exercise conducted by the Bid Evaluation Team (BET), 139 applicants were deemed successful and awarded the Qualified Applicant status,” NUPRC said.
In September, the minister of state for petroleum resources, Timipre Sylva said plans were at an advanced stage to commercialise gas burned from oil fields to help cut 15 million tonnes of carbon emissions from the atmosphere.
The Finance Bill 2022, yet to be signed into law by the president, provides incentives for gas flare trading where companies can convert the flared gas into Liquefied Petroleum Gas (LPG) for cooking, melting, and heating purposes.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.