Starting from 1 January 2025, applicants for oil licenses and permits in Nigeria will be required to provide proof of low carbon emissions and a renewable energy program before approvals are given.
The Nigerian Upstream Petroleum Regulatory Commission issued this announcement on Tuesday, 31 December 2024.
The commission’s Chief Executive Officer, Gbenga Komolafe, stated that the policy was in line with the nation’s objective of having net zero carbon emissions by 2060.
According to him, applicants might use the Upstream Petroleum Decarbonisation Template (UPDT) as a guidance.
He stated that all upstream sector approvals, including divestitures, will be subject to enforcement starting on January 1, 2025.
“By this, the commission is deepening its efforts to align the upstream petroleum industry with national priorities and international climate goals while ensuring sustainable value creation from oil and gas resources for Nigeria’s energy security and economic development,” Komolafe stated.
Along with implementing methane management programs including leak detection and repairs, the new mandate will compel operators to optimise operations using energy-efficient technologies and include renewable energy sources into projects.