Petroleum (Exploration and Production) Act
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Questions and Answers

Which Act governs the exploration and production of petroleum in Ghana?

  • Petroleum (Exploration and Production) Act, 2016 (correct)
  • Petroleum (Management and Production) Act, 2019
  • Petroleum (Exploration and Extraction) Act, 2018
  • Petroleum (Resources and Production) Act, 2017

    • What is the main objective of the Petroleum (Exploration and Production) Act, 2016?

  • To manage petroleum resources (correct)
  • To regulate petroleum prices
  • To promote renewable energy sources
  • To encourage foreign investment

    • What is the purpose of a Reconnaissance Licence?

  • To review terms and conditions
  • To conduct preliminary surveys (correct)
  • To conduct exploration drilling
  • To transfer assets to the Corporation

    • What is the duration of a Petroleum Agreement?

    <p>10 years</p> Signup and view all the answers

    What is the minimum work obligation for an exploration contract area?

    <p>2% of the contract area</p> Signup and view all the answers

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