One hundred and thirty-nine companies that will work on 48 project sites have been shortlisted for the Nigerian Gas Flare Commercialisation Programme (NGFCP).

The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, (NUPRC) Mr. Gbenga Komolafe, who disclosed that in Abuja on Thursday said the 139 firms were selected from 300 bidders that  applied for the project.

Komolafe, said the NGFCP 2022 was the first among a series of competitive auctions whereby Flare Gas that would otherwise have been directed to flare will be put on sale by the Commission to interested entities as prospective title holders of the flare gas.

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The NUPRC boss while congratulating  all qualified applicants for their successful performance during the Statement of Qualification (SOQ) phase of the bid process, said that was only a start of the journey.

He said the firms must  show demonstrable evidence for capacity to deliver on the flare monetisation projects, in line with the terms of the RFP would be your desired destination.

“This is a very defining moment in the history of Nigeria’s oil and gas industry and being a part of this journey is by no means a trifle task. This is especially so because the NGFCP checks the box in many fronts. Apart from forestalling the deleterious impacts of gas flaring on the environment, the Programme also ends the wanton wastage of our premium economic resource. In today’s carbon constrained world, where fossil fuel is becoming less and less popular, in view of issues of climate change, natural gas has assumed a stature of significant importance as the bridging fuel for many oil and gas producing nations”.