Petroleum Act (Cap. 219).

This Act makes provision for the control of petroleum exploration and development operations and provides rules for such operations, defines rights and duties of holders of licences under this Act with respect to licensed operations, the prevention of pollution, land rights of other persons and the land occupied by them.
Grants or leases for the exploration or mining of petroleum resources in The Bahamas shall be granted by the Governor-General. Grant of a licence or lease may be subject to bidding. Licences shall not be granted for areas larger than ten blocks and no licences shall be granted to a company in excess of fifty blocks. The Act provides for the granting of ancillary rights, i.e. rights relating to land or water essential for the carrying out of mining operations, to licensees or lessees. The Act also defines duties of a licensee or lessee to prevent damage to the environment and maritime traffic and related liability.