In a major move towards reforming Nigeria’s energy sector, the federal government has approved a contract for the construction of metering system for all the crude oil flow stations in the energy sector. The approval for the contract was awarded by the Federal Executive Council chaired by President Bola Tinubu......See Full Story>>.....See Full Story>>
The Minister of State for Petroleum Resources (Oil) Heineken Lokpobiri, made the announcement during a press briefing on Friday in Abuja.
He said that the contract awarded would be for a period of 180 days, adding that the move would enable the country meter about 187 of the flow station.
The move is coming at a time when stakeholders in the oil and gas sector had blamed faulty metering procedures, faulty instruments and lack of technology as some of the impediments to the efforts in tackling crude oil theft.
In recent time, pipelines, well heads, and flow stations have been the major targets of oil thieves in Nigeria.
Currently, there are no proper digitalised monitoring of the metering of the crude oil produced for export.
Speaking on the development, Lokpobiri said that the metering would enable the government to boost crude oil production as well as increase federation revenue.
He put the cost of the contract for the metering project at about $21m, adding that this is the first time in the history of the country where flow station will be having a digital metering system.
He said the metering project is in line with the agenda of the government to ensure transparency and accountability in the oil and gas sector.
More to come…