Petroleum Commission Bill for Nat’l Assembly in next sitting

Mar 26, 2017 News

Stakeholders from the industry and civil society on Friday made their input in the draft Petroleum Commission Bill, as Guyana continues to prepare for oil production.
Hosted by the Ministry of Natural Resources, the consultation was held at the Marriott Hotel, Kingston.
The Petroleum Commission Bill makes provision for the establishment of a Petroleum Commission to serve as a regulatory agency for Guyana’s emerging oil and gas industry, according to Government.
This is the second round of consultations since the bill was made public in December. The bill can be found on the Ministry’s website. The functions of the commission were key points raised during the initial review.
Stakeholders raised concerns and queries on the establishment of the board, powers of the minister and remuneration of staff.
Minster of Natural Resources, Raphael Trotman, noted that the appointment of the board will be inclusive.
“The board shall consist of a Chairperson, appointed by the Minister, the Director of Petroleum and not more than seven other persons who shall comprise representatives of the parliamentary opposition and civil society,” Minister Trotman explained.
The draft Petroleum Commission Bill has 44 sections which cover areas pertaining to the establishment and incorporation of the Petroleum Commission, functions and duties of the Commission, financing among others.
Minister Trotman explained that the Commission also draws from similar commissions established in Africa and Trinidad and Tobago. The Petroleum Commission will be a semi-autonomous organisation like the Guyana Geology and Mines Commission (GGMC) and the Guyana Forestry Commission (GFC).
The bill will be presented at the next sitting of Parliament which is scheduled for April, Minister Trotman. He explained that it will go before a Select Committee when it is presented in the National Assembly.
“It will be further examined and we can receive presentations on its improvement, and we certainly would like to have it passed into law by August before we go into recess,” Minister Trotman explained.
Oil was discovered by ExxonMobil, a US exploration company, offshore Guyana in 2015. It has been confirmed that the find was commercial and that full production will commence by 2020.
Guyana is currently introducing new legislation and systems in place, along with training technical staffers in preparation.
An on-shore site is being constructed in Berbice to deal with the demands of floating oil production facility.

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