Library / Page 1 of 6 MIDSTREAM AND DOWNSTREAM PETROLEUM SEPARATION OF LICENSED ACTIVITIES AND SURRENDER OF LICENCE OR PERMIT REGULATIONS, 2023

Page 1 of 6 MIDSTREAM AND DOWNSTREAM PETROLEUM SEPARATION OF LICENSED ACTIVITIES AND SURRENDER OF LICENCE OR PERMIT REGULATIONS, 2023

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(c) it is in the interest of public safety, environmental conservation, 
or national security. 
8. (1) A licensee or permit holder whose surrender application is approved 
by the Authority, shall: 
(a) Immediately cease all operations under the surrendered licence or 
permit; 
(b) comply with decommissioning and environmental remediation 
plan, 
(c) within 7 days of the approval of its application, return the original 
licence or permit to the Authority for cancellation. 
 
(2) The surrender of a licence or permit does not absolve the 
licensee or permit holder of any existing obligations or liabilities 
incurred under the licence or permit unless expressly agreed by 
the Authority in writing. 
 
(3) The Authority may, at its discretion, initiate an audit or review of 
the petroleum operation or activities conducted under the 
surrendered license or permit. 
Obligations and 
Consequences 
upon Surrender 
9. The Authority shall, within 30 days of the effective date of the surrender, 
publish a notice including particulars of the surrendered licence or 
permit in the Federal Gazette and on the website of the Authority. 
Publication of 
Surrender 
10. A person who — 
(a) fails to provide information required under these Regulations; or 
(b) makes a false declaration to the Authority, or wilfully furnishes any 
information so required which is in any respect false or insufficient; or 
(c) fails to comply with any provisions of these Regulations, 
shall, in addition to the sanctions, fines and penalties contained in the 
Act, be liable to an administrative penalty of NGN250,000.00 for each 
day of such default. 
Offences & 
Penalties 
11. The Authority may issue guidelines, directives, and notices for 
effective implementation of these Regulations. 
Guidelines 
12. In these Regulations — 
“Act” means the Petroleum Industry Act, No. 6, 2021; 
 
“entity” means any company, firm, or individual holding or seeking a 
licence or permit in the midstream and downstream petroleum 
industry; 
 
Interpretation