The Energy Ministry has introduced a new piece of legislation to provide for the upstream development of the petroleum sector.
The Petroleum Bill which was worked out by the Ministry has been announced in the gazette notification ahead of its presentation in Parliament for enactment later.
The bill, once enacted, will provide for the establishment of a Policy Advisory Committee to deal with exploration and development of petroleum resources of the country.
It will regulate the entire industry for the management of the process in a transparent, safe and environmental manner.