Lagos — The Department of Petroleum Resources, DPR, has debunked A report that the exact volume of Nigeria’s crude oil production is not known.
A statement by the agency it monitors crude production and that “every litre of crude produced in Nigeria is adequately captured during the process of extraction”.
“Our attention has been drawn to a report credited to the Executive Secretary of the Nigerian Extractive Industry Transparency Initiative (NEITI) that the exact volume of Nigeria’s crude production is not known.
“We wish to state that this assertion is false in its entirety and should be disregarded, as every litre of crude produced in Nigeria is adequately captured during the process of extraction,” DPR said in the statement.
It continued: “The monitoring of crude oil production and accounting is the primary responsibility of the DPR.
“As a further step to boosting crude accounting process from production to export, DPR said it recently launched the National Production Monitoring System (NPMS), an online platform for direct and independent acquisition of production data from oil and gas facilities in Nigeria.
“NPMS as an electronic data transmission tool at production and export terminals is designed to better predict the performance of oil and gas reservoirs and better production forecasting.
“The NPMS tool enables DPR to exercise surveillance, perform production monitoring and data analysis for utilisation and forecasting.
“DPR as business enabler and opportunity house will continue to develop robust and strategic initiatives to ensure timely and accurate payment of rents, royalties and other revenues due to the government”.
This article was oroginally posted at sweetcrudereports.com