GHANA has finally approved the Petroleum Exploration & Production Bill, replacing PNDC Law 84 that previously governed the upstream sector.
The new legislation introduces new transparency rules and measures to enforce local content and ensure capacity building.
At the same time, parliament also passed the Income Tax Amendment and the Customs Amendment Bill, which will both apply to Ghana’s industry.
There is not expected to be any delay in securing presidential assent for the E&P Bill because President John Mahama is understood to want it in place before elections this November.
Accra-based
