New Petroleum Exploration and Production Bill laid before Parliament

New Petroleum Exploration and Production Bill laid before Parliament

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Photo credit: www.kaavirecruit.org

The Minister for Petroleum, Emmanuel Armah-Kofi Buah has laid a new Petroleum Exploration and Production Bill before Ghana’s Parliament.

‘Mr Speaker, I respectfully seek your permission to first of all withdraw the E&P Bill 2004 which was laid on the 11th of November 2014. It has become necessary to do this because of global development in the Oil and Gas industry that has necessitated certain changes’, the Minister informed the House.

The EllembeIe MP added that ‘these changes have been incorporated into the new E&P Bill ie the Petroleum Exploration and Production Bill 2016. Mr Speaker, I now seek your permission to lay it before the House.’

‘Mr Speaker, I rise as a Member of the Mines and Energy Committee to support what the Minister is saying because during the deliberation, we realised that we needed to withdraw the old Bill and get the new one to take care of a number of concerns that have been raised’, Hon. Muntaka Mubarak stated, supported the new Bill.

The Speaker, Rt. Hon. Edward Doe Adjaho welcomed the new Bill, stating; ‘Hon. Members, the Petroleum Exploration and Production Bill 2014 which was laid in this House on the 11th of November 2014 is accordingly withdrawn.’ The Speaker added that ‘the Petroleum Exploration and Production Bill 2016 is duly presented, read for the first time and referred to the Committee of Mines and Energy for Consideration and Report.’

The Bill

The new Petroleum Exploration and Production Bill 2016, seeks to regulate petroleum activities and other related matters. The Bill (2004) replaces the old one which was laid before the House in November 2014, aimed at responding to happenings in the petroleum sector. The new Bill is expected to be passed into law.

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