The Department of Petroleum Resources (DPR) was created In 1971. It was the first statutory agency set up to supervise and regulate the petroleum industry in the country. Without any prejudice to the foregoing, the Department of Petroleum Resources is vested with the necessary powers by various legal provisions to discharge the following functions and responsibilities:
• supervising all petroleum industry operations being carried out under licences and leases in the country in order to ensure compliance with the applicable laws and regulations in line with good oil producing practices.
• enforcing safety and environmental regulations and ensuring that those operations conform to national and international industry practices and standards.
• keeping and updating records on petroleum industry operations, particularly on matters relating to petroleum reserves, production and exports of crude oil, gas and condensate, licenses and leases as well as rendering regular reports on them to Government.
• advising Government and relevant Agencies on technical matters and policies which may have impact on the administration and control of petroleum.
• processing all applications for licenses so as to ensure compliance with laid-down guidelines before making recommendations to the Honourable Minister of Petroleum Resources.
• ensuring timely and adequate payments of all rents and royalties as at when due.
• Monitors Government Indigenisation policy to ensure that local content philosophy is achievable.