Graphic Online: Ghana: Thursday,
February 16, 2017.
The passage
of the Bill, ACEP explained, would enhance transparency in the operations of
the oil and gas sector, which many experts believe are shrouded in secrecy.
The Deputy
Executive Director of ACEP, Mr Benjamin Boakye, said currently, it was
difficult to get information on contracts and how revenues were being used
because there was no law compelling the state institutions to give out the
information.
“We urge the government
of Ghana to consolidate the efforts of the past government through the passage
of the Petroleum (Exploration and Production) Act, 2016 (Act 917), by passing
the Right to Information Bill to enhance transparency in the oil and gas sector
as promised in their manifesto,” he said.
He added in
an interview on February 9 that, “If you have a law that enables you to demand
data from the state institutions, then they will be compelled to give the
information. In the absence of that, it is difficult to get information
contracts.”
Mr Boakye
explained that it was very critical to get information on oil revenues and
contracts that were being signed on behalf of the people, something that was
currently difficult to get.
Developing
regulations
There are a
number of regulations for the petroleum upstream sector developed by the
previous government. The past government started developing regulations on the
Petroleum Act. The Petroleum Commission led the development of Fiscal Metering
Regulation, Health and Safety Regulation and Data Management Regulation.
Mr Boakye
explained that it was, therefore, necessary for the new government to continue
developing regulations for the sector to ensure that operations were guided
accordingly.
“We further
entreat the government to continue the development of regulations for the
upstream sector. The government should continue that process with urgency and
also develop regulations on licensing and management of Public Register of
Petroleum Agreements,” he said.
Review
non-performing contracts
Mr Boakye
explained that there was the need for government to review non-performing
contracts and prescribe sanctions where necessary.
“We urge
government to take a critical look at the non-performing agreements and where
companies have failed to fulfil their work obligations, take steps to punish
them or abrogate those contracts,” he said.
On how to
attract investments into the growing oil and gas sector, he said government
ought to put in place investment incentives and ensure that the process of
awarding petroleum contracts were open and competitive.
“The remedy
into the future is to ensure that there is aggressive investment attraction
drive through the application of the new Petroleum Act 2016, which set in motion
the transparent process of awarding petroleum contracts through competitive
bidding,” he said.