The Federal Executive Council has given its approval for a $21 million contract aimed at metering 187 crude oil flow stations across the Niger Delta region. Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, announced this development during a press briefing in Abuja yesterday.
Lokpobiri explained that the project, facilitated by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), is scheduled to be completed within 180 days. The primary objective is to combat crude oil theft by accurately monitoring the country’s oil production and export processes.
During the briefing, Lokpobiri stated, “The Federal Executive Council meeting held two days ago, presided over by Mr. President, Commander-in-Chief of the Armed Forces, approved several initiatives to reorganize the oil and gas sector. One of the key approvals includes awarding a contract for the metering of 187 flow stations in the Niger Delta area.”
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He emphasized the significance of this initiative in enhancing accountability, saying, “This metering project will enable us to properly account for what we produce and export.”
Additionally, Lokpobiri disclosed that another contract approved during the council meeting involves the implementation of advanced cargo technology. This technology aims to track crude oil cargoes from loading terminals throughout their journey to their final destinations. The contract for this advanced cargo monitoring system is also slated for completion within 180 days.
Lokpobiri underscored the importance of these measures in maximizing the value of Nigeria’s crude oil exports and ensuring transparency in the entire supply chain.