The Minister of State Petroleum Resources, Dr. Ibe Kachikwu, has endorsed the digital technological breakthrough in crude oil accounting through the deployment of the National Production Monitoring System (NPMS) platform.
Commending the Department of Petroleum Resources (DPR) for achieving the feat, Kachikwu lauded the foresight and leadership of DPR Director, Mr. Mordeccai Ladan in setting up the NPMS platform to track crude oil production real-time, thereby dispelling the allegations that Nigeria does not know how much crude oil it produces and export.
The NPMS system is set up to achieve a robust data bank for timely information and easy retrieval, improved transparency in hydrocarbon accounting, improved revenue generated from hydrocarbon production and export, aaccurate hydrocarbon data monitoring and consistent high-quality data publication.
Kachikwu stated that all major stakeholders, including the Presidency and the National Assembly would have access to the platform real time to enable alignment of production figures by all stakeholders and improve oversight functions by the Legislature.
The Minister further commended the DPR for its efficiency and timeliness in the discharge of its regulatory functions especially in the last three years.
He also visited the National Data Repository (NDR) centre at the Agency’s headquarters in Lagos. He promised to provide all necessary assistance to DPR in all its digital initiatives.
The NDR is a data base that seeks to preserve and promote Nigeria’s exploration and production data such as seismic well logs. It is also the entity that governs, controls and supports data trade/exchange, leasing/prying, research and dissemination of exploration and production information.