The Petroleum Commission was established by an Act of Parliament, 2011 (Act 821) as a result of hydrocarbon discoveries in commercial quantities, to regulate and manage the utilization of petroleum resources and, coordinate the policies in the upstream petroleum sector.

Since energy is vital to the development of a country, it is expected that in the medium to long term, oil and gas would become one of the key drivers of the economy. In the light of this potential, the prudent management of the resource becomes absolutely essential.