Petroleum exploration Bill goes through second reading

Parliament has taken the Petroleum Exploration and Production Bill 2016 through the second reading.

The Bill when passed into law will repeal the Petroleum Exploration and Production Bill, Act 1984 PNDC Law 84. 

The Bill provides for and ensure safe, secure, sustainable and efficient petroleum activities and guarantee optimal long term petroleum resources exploitation and utilisation for the benefit of the people of Ghana. 

The Chairman of the Mines and Energy Committee, Alhaji Amadu Sorogho told the Plenary that the passage of the Bill will boost the development of local content in the petroleum industry. 


Meanwhile, the House has approved the request for waiver of custom duties, Value Added Tax, National Health Insurance Levy, destination inspection fees, Export Development Investment Fund, ECOWAS Levy and other related taxes amounting to $152 million on the goods and equipment imported or purchased locally for the Western Corridor Gas Infrastructure Development Project presented to the House by Finance Minister Seth Terkper.


By our Parliamentary Correspondents Dominic Hlordzi and Augustus Acquaye.