Regulatory Advisory
Context
NNF provided advisory to the regulatory agency for petroleum activities in Angola for the creation of technical regulations and their respective inspection procedures. Technical regulations are essential to regulate the conduct of economic agents.
Based on this premise, NNF was hired to assist of the draft of technical regulations regarding the Annual Production Plan, Annual Work Plan and Budget, Resource and Reserve Estimation, Operational Safety, among others.
Action
For each regulation and procedure, the methodology included the following actions:
- Technical Note: a document that concerns the regulatory impacts of the subject, presents the structure and objectives of the new regulation and the reasoning behind the regulatory choice.
- Technical Regulation: a document that establishes the processes and the types of service or equipment required for an activity regarding the technical regulation. The regulations proposed by NNF followed the best practices internationally adopted in the development of regulatory framework for development and production activities.
- Inspection Procedure: a document intended to standardize the actions of the regulatory agency's employees during the inspection of the respective technical regulation.
In addition to the documents listed, NNF also delivered a conceptual review of relevant legislation in the Angolan oil sector; a training course on technical regulations (containing the following modules: Drafting Technical Regulations, Regulatory Impact Analysis and Regulatory Risk Analysis); and training sessions on each of the technical regulations.
Results
The consulting services for the creation of technical regulations and their respective inspection procedures were well received by the client. The procedures were duly implemented by the regulatory agency and the training sessions received positive feedback. The success of the work led the client to create a broader regulatory agenda with new tenders for technical regulations.