Library / Page 1 of 67 MIDSTREAM AND DOWNSTREAM PETROLEUM SAFETY AND ENVIRONMENTAL REGULATIONS, 2025
Page 1 of 67 MIDSTREAM AND DOWNSTREAM PETROLEUM SAFETY AND ENVIRONMENTAL REGULATIONS, 2025

Page 56 of 67
Page 56 of 67 
 
“Act” means Petroleum Industry Act, No. 6 2021; 
“activation” means the action or process of making the SRCP operative during the planned 
annual SRCP drill exercise; 
“ANSI” means American National Standard Institute, 
“API” means American Petroleum Institute, 
“ASME” means the American Society of Mechanical Engineers, 
“Assignor” means a licence or permit holder who assigns or transfers its licence or permit 
to another person known as the assignee.  
“Audit” means an inspection of a facility, operations, processes, procedures and 
documentation or records to ensure a licensee or permit holder is in compliance with the 
relevant conditions and requirements of its licence or permit; 
“Authority” means the Nigerian Midstream and Downstream Petroleum Regulatory 
Authority, 
“bbl./day” means barrels per day 
“Chemical vendors” means entities, companies, organisation licenced by the Authority to 
sell chemical utilised for any process in the midstream and downstream petroleum 
industry; 
“CNG” means Compressed Natural Gas; 
 
“CER”means the rate applicable to the capital expenditure, as determined in accordance 
with the Schedule to these Regulations; 
 
“CL”means the average daily capacity of facilities under a licence during a year for which 
the financial contribution is payable, in barrels per day; 
 
“CLR”means the rate in USD per bbl./day for average daily capacity for liquid hydrocarbons 
(CL), as determined in accordance with the Schedule to these Regulations; 
 
“CG” means the average daily capacity of facilities under a licence during a year for which 
the financial contribution is payable, in MSCFD; 
 
“CGR” means the rate in USD per MSCFD for average daily capacity for gaseous 
hydrocarbons (CG), as determined in accordance the Schedule to these Regulations;