These Regulations, made under section 33 (y) of the Petroleum Industry Act, no. 6 of 2021, apply to the establishment and administration of the environmental remediation fund, and, in case a licensee fails to rehabilitate, manage or is unable to undertake the rehabilitation of any impact on the environment arising from its operations. The Regulations concern: general rules for the establishment and financial contribution of the midstream and downstream environmental remediation fund for midstream and downstream petroleum operations; rehabilitation and management of negative environmental impacts arising from midstream and downstream petroleum operations; financial contribution based on the size of the petroleum operations and the level of the environmental risk; fines, sanctions and administrative penalties for misconduct. The Regulations provide for: administrative matters concerning the establishment of the fund; utilisation of the fund; financial contribution and area of petroleum operations including: wetlands and mangrove areas, zones of 500 meters along any river or lake, a zone of 10 km seawards of a high-water mark, other onshore or swallow water areas defined as high risk by the authority, deep water areas; determination of intervention mechanism.
Nigéria · 2023-05-10