Guide
Petroleum Activities Act 2023, in plain English
What the Petroleum Activities Act 17 of 2023 covers, when it came into force, and why section 84 states minimum fines.
What the official sources say
The Petroleum Activities Act 17 of 2023 is the upstream petroleum statute. It replaced the 1986 exploration and production framework and is in force from 1 September 2023 under the official commencement order. Existing agreements still have saving and transitional rules, so the Act is not a substitute for the licence or the petroleum agreement on a named block.
Section 84 states minimum fines, not maximums. A residual failure is not less than GYD 5,000,000. Specified knowing or wilful conduct is not less than GYD 30,000,000 and three years. Those figures are the enacted text in the cited PDF. Later amendments still need a legal check. PetroMetric links the section. It does not decide that anyone has committed an offence.
Checklist
- Read the Act beside the licence and the petroleum agreement, not instead of them.
- Record the section, the version, and the URL on each obligation.
- Treat section 84 amounts as minima.
- Keep subsidiary regulations separate until their own commencement is verified.
- Do not copy a model agreement in as if it were every operator's contract.
Questions people ask
Is the Petroleum Activities Act 2023 in force?
The enacted Act is in force from 1 September 2023 under the official commencement order. Subsidiary regulations and directions still need their own commencement check. A draft is not law.
Are the section 84 fines maximums?
No. The enacted text states minima: not less than GYD 5,000,000 in the residual case, and not less than GYD 30,000,000 plus three years for specified knowing or wilful conduct. Do not describe them as caps.
Does PetroMetric certify that a company complies with the Act?
No. PetroMetric is a proposed record of obligations and evidence. It is not legal advice, not a government system, and not a certification.
Related pages
Informational only. This is not legal, tax, or regulatory advice, and it is not a certification or a government publication. A qualified legal reviewer has not been appointed. Confirm the current Act, permit, licence, and guideline before you rely on a date or a figure. PetroMetric does not file reports or applications with any agency. Source snapshot 8 November 2026, America/Guyana. Contact (592) 600-1096 or service@computingcore.net. Contact for pricing.