The NNPC GMD explained further that government has also intensified policies to increase gas utilisation and eliminate flaring in recognition of the transition from carbon intensive production towards cleaner alternatives. Within the last decade, the Nigerian upstream sector had witnessed significant transactions involving the sale of interests in oil licenses. Some of these transactions were concluded in the time of high oil prices and in some instances involved asset transfers from International Oil Companies with long years of carrying on exploration and production activities in Nigeria, to smaller indigenous companies with limited experience in the upstream sector. Expectedly, decommissioning obligations and the potential liabilities are also transferred to the new holder of the licence. In August last year, Shell launched divestment of its 30 per cent stake in Shell Petroleum Development Company of Nigeria Limited subsidiary.