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ACEP calls for quick assent to Petroleum Exploration and Production Law

poil ghaThat was the Deputy Executive Director of the Africa Centre for Energy Policy (ACEP) is calling on the President to as a matter of urgency assent to the Petroleum Exploration and Production ( E&P Law).

Ben Boakye is worried that almost three weeks after the passage of the E&P Law the President has yet to give his assent to it.

The law which replaces the 1986 PNDC Law 84 seeks to promote mandatory competitive tender and disclosure of the identities of oil investors among others – in line with international best practice.

Mr. Boakye believes an urgent assent to the law is crucial for the development of the industry.

“It would delight all of us to that the President will see the urgency in assenting to sign the Bill. If it were the budget he would have flown from wherever to come and sign it. This is a law that would regulate the oil and gas industry to ensure that subsequent contracts are better governed,” he said.

He said this will enable Ghana to have a competitive arrangement for awarding competitive advantage in awarding petroleum contract and improves transparency and accountability.

“We expect the same urgency that is given to any other bill that gets assented to overnight and starts being implemented. This is what we want to be given by the President,” he said.

Mr Boakye said it is dangerous for the nation since Parliament would then have to agree to contracts relating to oil and gas while the bill sits on the desk of the President.

Source: http://www.myjoyonline.com/business/2016/August-30th/acep-calls-for-quick-assent-to-petroleum-exploration-and-production-law.php

 

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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