Registration Guidelines For Upstream Petroleum Companies (Initial)
All companies which intend to operate in Ghana’s upstream petroleum sector are required to register with the Petroleum Commission and be issued with a permit (renewable annually) before commencement of operations. Below is the process:
A. Acquisition of Application Pack
An application pack must be obtained from Petroleum Commission for a non-refundable fee of One Hundred Ghana Cedis (GH₵100) payable by Banker’s Draft ONLY to Petroleum Commission, Ghana.
B. Submission of Application Form and Related Documents
Duly filled application forms and related documents should be comb bound and three (3) copies submitted. Application for registration MUST be submitted with the following documents:
If an applicant cannot submit any of the documents listed above, the applicant will have to obtain a waiver from the appropriate Government agency.
Joint Venture Companies
For Joint Venture Companies, please also include the following:
- A plan clearly stating:
- the roles and responsibilities of the joint venture parties in the joint venture company;
- the equity participation of the joint venture parties;
- the strategy for the transfer of technology and know-how to the indigenous Ghanaian company.
- Regulations of the Company covering, among other things, the following:
- Shares structure and the shareholders rights (including classes of shares and voting rights).
- Reserved Matters
- Dividend policy
- Transfer of Shares & Pre-emptive Rights
- Obligatory Transfer Events
- Board of Directors (Executive & Non Executive)
- Deadlock Provisions
- Tug Along Rights
- Board resolution of the two companies approving the incorporation of the joint venture company.
- Audited Financial Statement of the indigenous and non-indigenous Ghanaian companies for the last three (3) years.
- Key Personnel (CEO, COO, CFO and other senior Management Personnel) and brief description of their jobs, mandates, roles and responsibilities.
General Information
- All communications to the Petroleum Commission must be on the applicant company’s official letter head and addressed to the CEO of the Commission.
- Application for the Registration Permit must be made by the corporate head of the company or an authorized representative.
- An application shall be rendered void if forged or if it is detected that fake documents have been submitted. Sanctions may apply in accordance with the law.
- Tax Clearance and SSNIT clearance certificates submitted with the application must be valid at the time of submission.
- Information provided by an applicant on completed application forms that are submitted and processed by the Commission shall not be amended until the renewal of the Permit.
- The Commission would review all applications and where necessary, may carry out site/facility inspections. The outcome of the review could be any of the following:
- Application rejected
- Additional information required
- Application Approved
Successful applicants would be required to pay appropriate fees based on their Annual Turnover (for already existing companies) or Projected Revenue (for newly formed companies) in accordance with The Petroleum Commission (Fees and Charges) Regulations, 2015 (L.I. 2221).
C. Issuance Of Permit
- Permits will only be issued by the Petroleum Commission after the applicant has satisfactorily met all requirements and paid the appropriate fee.
- Permits may be ready for collection five (5) working days after the appropriate fees have been paid.
- Permits should be picked up by an authorized representative with a valid company or National ID (Driver’s license, Voter’s ID, Passport, etc).
- Expiration date of the Permit shall be at the anniversary of issuance.