Upstream Petroleum Resources Bill Hearing

Parliament’s Portfolio Committee on Mineral Resources and Energy is conducting nationwide public hearings on the Upstream Petroleum Resources Development Amendment Bill with the Western Cape leg taking place in the Overberg District Municipality on Saturday, 18 February. The Bill seeks to separate petroleum provisions from minerals provisions as currently provided for in the Mineral and Petroleum Resources Development Act (the MPRDA), 2002 (Act No. 28 of 2002). This caters for two independent pieces of legislation to address matters pertinent to each industry and to bring about stability and security to investors, especially in the upstream petroleum sector.This Bill is also aimed at enhancing the state participation in the upstream petroleum industry and economic transformation of the industry that include provisions which promote petroleum resources development in a sustainable and equitable manner for the benefit of all South Africans. It further aims to improve the proficiency and effectiveness of legislation in achieving the primary objective of creating the upstream petroleum regulation regime that conforms to regulatory best practice.The Committee invites all individuals and interested organisations to come and make inputs on the Bill, to ensure that the final product is the reflection of the will and aspirations of the people of South Africa.For more information and to obtain copies of the Bill, please contact Ms Ayanda Boss on 083 709 8515 or at [email protected]. The Bill can also be downloaded from the Parliament website - www.parliament.gov.zaParliament, following up on our commitments to the people. Making your future works better.