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Petroleum Commission will slowdown oil and gas sector – Oil Minister
Minister Vickram Bharrat (center) sharing remarks during his press conference. Also present are Permanent Secretary of the Ministry of Natural Resources, Joslyn McKenzie (right) and Commissioner of the Guyana Geology and Mines Commission, Newell Dennison (left)
Kaieteur News – The Guyana Government, among other things, said on Wednesday that the establishment of a Petroleum Commission here now will slow down the oil and gas sector.
This was the view of Minister of Natural Resources, Vickram Bharrat during his half-year press conference, hosted at the Guyana Forestry Commission office, Kingston Georgetown. Bharrat told reporters during his almost four-hour long media briefing that while it sounds nice to say “put the petroleum commission in place” the advantages and disadvantages must be considered.
He was responding to a question from Kaieteur News on the subject when he explained, “The Petroleum Commission will basically be doing what we are doing at the Petroleum Unit at the Ministry of Natural Resources. I don’t think we will be doing anything different from what we are doing now.”
In fact, the minister believes that the commission may even slow down the rapid developments taking place in the industry. “A commission like that might be slower in decision-making than the policymakers making decision with regards to how we advance this sector taking into consideration that we have a limited timeframe and a closing window so we have to look at the advantages and disadvantages of everything,” he noted.
Bharrat however went on to question the role of the Petroleum Commission, highlighting the “efficient” functions carried out by the Ministry’s Petroleum Unit over the last few years. “Haven’t we managed the sector well over the last few years, building out the framework, putting the legislative framework in place too, having a new Petroleum Activities Act, a Local Content Legislation, having a new PSA in place, having improvements in production licenses and environmental permits and putting all of the monitoring capabilities in place, I don’t see a commission doing anything different from what the petroleum unit is doing at the Ministry of Natural Resources,” the minister reasoned.
Although the government may not be looking to establish the Petroleum Commission at this time, Bharrat said the body is likely to materialise in the future. As such, he made it clear that the same individuals hired to work in the ministry’s Petroleum Unit will be appointed to the Commission. “It’s these same gentlemen and ladies who you see here managing the unit will be on the Petroleum Commission because we can’t throw them away and bring a set of new staff and say you go, we will staff a commission with these people,” Bharrat noted. He said those individuals that have been hired are already experienced and qualified.
To this end, Bharrat argued that the Petroleum Commission would not be a “magic fix”. “What new will happen? What different will happen in the sector that is not happening right now? We have total transparency and accountability. We have a good way of sharing information with the media and everybody like what we are doing here right now. I don’t really see a major difference between the Commission and the petroleum unit at the ministry of natural resources at this point in time when we need to make firm, quick, decisive decision with regards to advancing this sector,” he said.
A Petroleum Commission should comprise of specialists to help regulate, manage and coordinate all petroleum related activities for the benefit of citizens in that country. Ideally, skilled professionals in a wide range of areas such as science and business should be hired to ensure the interest of the country’s welfare is protected at all costs. Recognising the critical importance of such a body, the PPP in its 2020 Elections Manifesto promised to “establish a regulatory framework which is independent of politicians”.
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