AN EXAMINATION OF THE LEGAL FRAMEWORK REGULATING THE UPSTREAM SECTOR OF OIL AND GAS INDUSTRY IN NIGERIA

Abstract

ABSTRACT This research examines the legal framework on the upstream sector of oil and gas industry in Nigeria. The study critically investigates the institutional and legal framework put in place in ensuring that the operation of the Upstream Sector of Oil and Gas industry in Nigeria meets up with the legal requirements stated in the PIA. The upstream sector is regulated by a complex legal framework, which comprises of the various statues, regulations, and guidelines. The Petroleum Industry Act (PIA) 2021 is the primary legislation governing the upstream sector, providing a comprehensive framework for the exploration, production, and transportation of petroleum resources. The PIA establishes the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) as the regulator for the upstream sector, responsible for issuing licences, permits, and approvals. This research adopts the doctrinal methodology and examines both primary and secondary sources in order to evaluate and confirm legal hypothesis. The study finds that the PIA has established a framework for transparency and accountability, including the establishment of a National Petroleum Company and the publication of petroleum agreements. The study recommends that companies should invest in advanced technologies to improve operations and safety. The study concludes by stating that the government, regulatory agencies, industry operators, and stakeholders must work together ensure that the objectives of the PIA are achieved, and the upstream oil and gas sector is governed in a manner that is transparent, accountable, and sustainable. �

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urn:uuid:e3af72ea-45ee-410a-9327-2026b63d37b1