Energy Minister, Boakye Agyarko has charged the new Board of Directors of the Petroleum Commission to work to get outstanding legislations on their operations passed into law by the end of the year.
The Commission is seeking to get the Data Management Regulations and the Health and Safety Regulations by December this year.
The two laws are expected to deepen compliance within the petroleum upstream sector.
At the inauguration of the new Board of the Petroleum Commission, Mr. Agyarko maintained that the laws are critical to the growth of the oil industry.
“Unfortunately, since the promulgation of the Petroleum Exploration and Production Law in 1983, no upstream petroleum regulations were developed…currently the Commission is working assiduously to lay before Parliament, for passage into law, the Data Management Regulations and the Health and Safety Regulations by December 2017,” he stated.
The Minister, among others also charged the new Board to address concerns on regulatory role and institutional overlaps, funding and budgetary allocation, inadequate capacity.
Highlighting the NPP government’s quest to promote local content in the awarding of various contracts and agreements, Mr. Agyarko further suggested that the new Board of the petroleum commission to pursue provisions of the Local Content Law and see to the establishment of a local content fund.
The Board of the Petroleum Commission is Chaired by the Managing Director of Prudential Bank, Mr. Stephen Sekyere Abankwah with the CEO of the Commission, Mr. Egbert Faibille Junior and Prof. Daniel Asiedu of the University of Ghana as members.
Other members of the Board are; Dr. Jemima Nunoo, Mr. Mahami Salifu, Hon. Mohammed Hardi Tufeiru as well as Mr. John Alexis Pwamang.
By: Pius Amihere Eduku/citibusinessnews.com/Ghana