Parliament, Wednesday, 30 October 2024 – The Chairperson of the Portfolio Committee on Mineral and Petroleum Resources, Mr Mikateko Mahlaule, has welcomed the signing of the Upstream Petroleum Resources Development (UPRD) Bill [B13-2021] into an Act of Parliament by President Cyril Ramaphosa.
Section 111(1) of the Upstream Petroleum Resources Development Act (Act No. 23 of 2024), states that the Act comes into operation on a date fixed by the President by proclamation in the Gazette. Also, section 111(2) states that different dates may be so fixed in respect of different provisions of the Act. The UPRD Act was published on Tuesday, 29 October 2024, in the government gazette number 51463, volume 712.
Mr Mahlaule is particularly pleased with the signing of this Act of Parliament as it is the culmination of the diligent work of the committee during the sixth Parliament. Then, the committee conducted public hearings across nine provinces, covering 26 districts and four metropolitan municipalities.
Once its full commencement is proclaimed in the Gazette, the Act will separate petroleum provision from mineral provision, as currently provided for in the Mineral and Petroleum Resources Development Act (Act No. 28 of 2002).
There will then be two independent pieces of legislation to address matters pertinent to each industry to bring about stability and security to investors, especially in the upstream petroleum sector.
Furthermore, UPRD Act will enhance state participation in the upstream petroleum industry and economic transformation of the industry. It will also promote petroleum resource development in a sustainable and equitable manner for the benefit of all South Africans.
ISSUED BY PARLIAMENT COMMUNICATION SERVICES ON BEHALF OF THE CHAIRPERSON OF THE PORTFOLIO COMMITTEE ON MINERAL AND PETROLEUM RESOURCES, MR MIKATEKO MAHLAULE.
For media enquiries or interviews with the Chairperson, please contact the committee’s Media Officer:
Name: Mr Justice Molafo
Cell: 081 424 7481
Email: jmolafo@parliament.gov.za
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