The Petroleum Industry Act, 2021 Is Here. What’s in For Marginal Field Operators?

Abstract

This paper provides a thorough exegesis of the regulatory frameworks affecting marginal field operations in Nigeria in light with the recent overhauling occasioned by the enactment of the Petroleum Industry Act, 2021.
Through a historical comparative appraisal, it evaluates the faring of marginal field operators in Nigeria prior to the enactment of the Petroleum Industry Act, 2021 while juxtaposing same with the extant positions under the Petroleum Industry Act, 2021. Ultimately, it critiques the legal regime as a catalyst for the problems encountered in the sub-sector while ensuring that timely and relevant recommendations are made to the effect of improving marginal field operations in Nigeria given its endearing potentials.

Keywords: Marginal Field Operations, Petroleum Industry, Production, License, Lease