Minister of Natural Resources Raphael Trotman, today, presented the Petroleum Commission Bill for the first time in the National Assembly.
The Bill intituled (give title to a legislative act) an Act to provide for the establishment and functions of the Petroleum Commission of Guyana and for related matters. The six-part Bill has 51 sections which cover areas pertaining to the establishment and incorporation of the Petroleum Commission, functions and duties of the Commission, and financing among others.
The Petroleum Commission Bill makes provision for the establishment of a Petroleum Commission to serve as a regulatory agency for Guyana’s oil and gas industry.
The establishment of a new regulatory agency will see the responsibility taken from the Guyana Geology and Mines Commission (GGMC).
Minister Trotman, according to a GINA release, registered the government’s intention to have the Bill read for a second time before being sent to Special Select Committee for review.