Nigeria, Streamsowers & Köhn updates

Energy & Natural Resources

Contributed by Streamsowers & Köhn
Local Content Development and Enforcement Bill 2020 undergoes second reading
  • Nigeria
  • 03 August 2020

The Local Content Development and Enforcement Bill 2020 recently passed its second reading in the House of Representatives and was subsequently referred to the Committee on Nigerian Content Development and Monitoring for further consideration. The bill seeks to amend the Oil and Gas Industry Content Development Act by expanding its scope to capture changes in the industry.

New bill seeks to align Oil and Gas Industry Content Development Act with industry best practices
  • Nigeria
  • 27 July 2020

The Oil and Gas Industry Content Development Bill 2020 recently passed its second reading in the Senate and was subsequently referred to the Committee on Local Content for further consideration. The bill seeks to amend existing sections of, and introduce new sections to, the extant Oil and Gas Industry Content Development Act with the aim of aligning the act with industry best practices.

Gas Flaring and Minerals and Mining Bills undergo second reading
  • Nigeria
  • 06 July 2020

Two bills relating to the oil and gas industry recently passed their second reading in the Senate and the House of Representatives, respectfully. The Gas Flaring Bill seeks to prohibit gas flaring in Nigeria, while the Minerals and Mining Bill seeks to establish a regulatory framework for the Nigerian mining industry in line with international best practices and create a regulatory authority which will be responsible for ensuring fair competition and encouraging investments in the mining sector.

DPR issues COVID-19 circular and declares pandemic event of force majeure
  • Nigeria
  • 11 May 2020

After the president issued regulations directing a lockdown of areas where oil and gas companies' head offices are located, the Department of Petroleum Resources issued a circular to ensure the safety and welfare of all personnel and contain the spread of COVID-19, directing that all operators and their contractors must comply with the directives of government authorities on measures such as social distancing, curfews and lockdowns and that the current situation constitutes force majeure.

Deep Offshore and Inland Basin Production Sharing Contracts (Amendment) Bill submitted to National Assembly
  • Nigeria
  • 23 July 2018

The president recently submitted the Deep Offshore and Inland Basin Production Sharing Contracts (Amendment) Bill 2018 to the National Assembly for consideration and passage. The bill seeks to amend Section 16 of the Deep Offshore and Inland Basin Production Sharing Contracts Act, which was promulgated in 1999. If passed, it will alter the economic dynamics of production sharing contracts.


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