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The Federal Government has commenced the review of applications by oil operators whose licences have expired, with a view to extending their tenure and allowing them to retain control of the assets beyond 2026.
Checks by Vanguard confirmed that operators of the expired oil licenses had applied for extensions to enable them to retain the oil and gas assets.
A source at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said: “The companies have applied for extensions, and the applications are currently being reviewed. It is a normal practice.”
SOURCE: VANGUARD
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