Amendment to bring in K28.8mil, says official

THE Petroleum and Energy Department is expected to generate about K28.8 million annually if the fees and charges in the Oil and Gas Act are reviewed, an official says.
Outgoing acting secretary for the department Lohial Nuau said this was the projection for “guaranteed fees” of activities in the country’s petroleum sector.
However, Nuau said non-guarantee fees originating from extensions of applications including rentals, proposed fees and so forth, would add another K37.43 million to the national purse annually.
“In early 2019, I gave an undertaking that fees and charges in the Oil and Gas Act (OGA) and Oil and Gas regulation be reviewed and completed from the last progress,” he said.
“The intent is to embrace current amendments under the Public Finances (Management) (Amendment) Act 2016, and in particular in compliance with the new Part IXA and Oil & Gas (Amendment) Act 2016, which effectively repealed Sections 157 and 163 of the Oil & Gas Act (No. 49), 1998 and Section 182 of the Oil & Gas Regulations, 2002.
“It is from this undertaking that the department has completed all necessary compilations for submission of revised and proposed new fees and charges under the principal act, the OGA.”
He said DPE in collaboration with the Department of Finance will make public the revised fees and charges, including the proposed new fees.