Benjamin Boakye
The Africa Centre for Energy Policy (ACEP) has commended the Ministry of Energy and the Petroleum Commission for their efforts in promoting transparency in Ghana’s upstream oil and gas sector through the launch of the Petroleum Register.
A statement issued recently and signed by Ben Boakye, Executive Director, ACEP, noted that the register fulfilled Section 56 of the Petroleum (Exploration and Production) Act, 2016 (Act 919), which provides that “the Commission shall establish and maintain a register of petroleum agreements, licences, permits and authorizations, which shall be open to the public.”
It said the launch of the petroleum register came as good news after years of ACEP’s advocacy against non-disclosure to the public of the terms and conditions of many petroleum contracts awarded by the government.
ACEP said that since petroleum agreements were long-term with outcomes that directly impacted the wellbeing of the public, it was only fair that the contracts were published to allow for public scrutiny of the terms.
“With a publicly accessible petroleum register now in place, Ghanaians and all stakeholders will have access to relevant information on contracts. This will empower them to demand accountability from the government, hold companies to deliver on their contractual obligations and shape the outcome of future contracts. ACEP is happy about the structure and content of the register.
“The publication of the full contract documents and summaries of the fiscal terms settles the fear of civil society that Act 919 could have resulted in the publication of just a list of contracts.”
ACEP assured the Petroleum Commission and the general public of its full support in ensuring that the petroleum register achieved its purpose.
“We will make use of the data provided to monitor outcomes of contract negotiations and monitor the performance of companies awarded petroleum contracts. We urge the Ministry of Energy to complement the register with open and competitive tendering for petroleum contracts to ensure best possible outcome from contract negotiations.
“This requires speedy completion of the development of regulations on Act 919 which was promised last year. We look forward to working with the Ministry on the regulations.”
A business desk report