Deep offshore incentive may add 1m barrels crude daily – NUPRC
President Tinubu’s new deep offshore incentives could unlock $50bn investments and add nearly 1 million barrels of crude oil daily to Nigeria’s production. Read More: https://punchng.com/deep-offshore-incentive-may-add-1m-barrels-crude-daily-nuprc/
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that President Bola Tinubu's new tax incentive for deep offshore oil and gas projects could potentially unlock $50bn in investments and add nearly one million barrels per day of crude oil and condensate to Nigeria's production within the next four to five years.
The Deep Offshore Oil and Gas Project Incentives (Tax Remission) Executive Order 2026, recently signed by Tinubu, is designed to improve the economics of deep offshore oil and gas projects by providing tax incentives and a more predictable framework for investors.
Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
