Petroleum (Exploration and Production) Act, 2016 Act 919
Section 14: (1) A petroleum agreement shall, subject to subsection (2), be for a period of not more than twenty-five years.(2) Where production from a field is projected to extend beyond the original term of the petroleum agreement, the Minister may (a) approve an extension of the petroleum agreement on the terms agreed by the parties; or (b) execute a new petroleum agreement by direct negotiations in accordance with section 10, to ensure optimal production from the field(3) The extension of a petroleum agreement or the execution of a new petroleum agreement is subject to ratification by Parliament.
Subject : Licencess(Petroleum)Procedure to Follow
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No.6 George Walker Bush Highway Adjacent Petroleum Commission Dzorwulu, Accra
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