The Federal Executive Council (FEC) has approved a contract for the construction of a metering system for all crude oil flow stations in Nigeria.
Flow stations are facilities where fluids, usually natural gas or crude oil, are gathered from a pipeline and processed.
Minister of state for petroleum resources (oil), Heineken Lokpobiri, who disclosed this at a press briefing in Abuja, said the contract is to be executed within a period of 180 days (six months).
He added that the move would enable the country meter about 187 flow stations and ensure proper accountability in the production of crude oil.
The minister said another memo was approved by the council regarding “advance cargo”, which tracks when cargo is loaded at terminals, all the way to the point of destination, to also be complete in 180 days.
He said this will ensure cargo loading is monitored through digital technology until it is delivered at the final destination.
The minister said the contract is worth $21 million, adding that this is a way to ramp up production and federation revenue.
Lokpobiri said the country has been able to bring back confidence in investment companies.
