The Department of Mineral Resources and Energy (DMRE) has issued a call for comments on the draft South African National Petroleum Company (SANPC) Bill.
The draft bill was published in the government gazette on Monday and affected parties are invited to send their comments within 30 days.
“The Bill aims to establish the SANPC, ensure proper governance, as well as consolidate and transfer assets of the company in line with the relevant legislation, with the Minister as the sole shareholder of the company,” the department said.
The department explained the role of the SANPC.
“The SANPC will be the state’s energy champion and facilitator of energy infrastructure across the energy value chain. Its functions will include but not limited to managing the state’s exploration and production rights, interest acquired and exercised in terms of the Upstream Petroleum Resources Development Act; ensure that petroleum resources are developed in a sustainable manner to the best interest of the people of South Africa.
“The Bill outlines various aspects that will ensure proper functioning of the company, which include cooperative governance, functions of the board, and funding of the company, amongst others,” the DMRE said.
Comments on the draft bill can be sent electronically to representations@dmre.gov.za or by post to 70 Mentjies Street, Sunnyside, 0001 or Private Bag X59, Arcadia, 0007.
The draft SANPC Bill can be accessed online at https://www.gov.za/sites/default/files/gcis_document/202311/49711gon4062.pdf. - SAnews.gov.za
