Library / Page | 1 MIDSTREAM AND DOWNSTREAM PETROLEUM OPERATIONS REGULATIONS, 2024
Page | 1 MIDSTREAM AND DOWNSTREAM PETROLEUM OPERATIONS REGULATIONS, 2024

Page 74 of 101
 
 
Page | 74 
 
“Act” means the Petroleum Industry Act, No. 6, 2021; 
“administrative penalties” means monetary penalties that may be 
imposed by the Authority on individuals or companies for failing to comply 
with provisions of the Act, regulations or notices or directives made by the 
Authority; 
“Advance Lifting Schedule” means a written submission to the Authority 
(in the prescribed form) made by a person who intend to carry out 
shipment, lifting or export of natural gas or its derivatives, petroleum, 
petroleum liquid or its derivatives, petroleum products; 
“ANSI”, means American National Standards Institute. 
“API”, means American Petroleum Institute. 
"Appropriate government authority" means any other government 
agency having authority for clearance of vessels before departure from 
the Nigerian waters; 
“Approval to Construct” means a statutory instrument conferring on the 
holder the authorization to commence the fabrication and construction 
of a process plant or facility; 
“ASME”, means American Society of Mechanical Engineers; 
“asset” means any facility, installation or system for measuring, processing, 
transporting, storing, blending, distributing or handling of crude oil or its 
derivatives, natural gas or its derivatives, petroleum product or any form 
of petroleum liquids; 
“assignment” means the transfer of a licence or permit or an interest, 
power or right in it by any company or person with equity, participating, 
contractual or working interest in the  licence or permit through merger, 
acquisition, takeover, divestment of shares or property, or any such 
transaction that may alter the ownership, equity, rights or interest of the 
assigning company in question, not minding the nature of business 
arrangement that the assigning company may be involved in; 
“assignment or transfer by acquisition” means direct or indirect takeover 
or acquisition of the entire rights or interest in a licence or permit, and 
associated assets of the assigning company, including acquisition of 
interest by an entity in a parent company whose affiliate has interest in a 
licence or permit, or associated assets in Nigeria;