Petroleum Act.

This Act makes provision for the development of the petroleum industry in Jamaica and related matters. The Act consists of 28 sections divided into 4 Parts: Preliminary (I); Vesting of Petroleum (II); The Petroleum Corporation of Jamaica (III); Miscellaneous (IV).
All petroleum existing in its natural state in strata in Jamaica including the bed and subsoil of its territorial sea, its continental shelf of Jamaica is vested in the Crown. No person shall, except in accordance with the provisions of this Act and any regulations made thereunder explore or develop petroleum resources. The Petroleum Corporation of Jamaica shall be established as a body corporate. The provisions of the Schedule shall have effect as to the constitution of the Corporation and otherwise in relation thereto. The Corporation shall promote an orderly and rational development of the petroleum resources of Jamaica and carry out other functions listed in section 7. The Minister may by order, which shall be subject to affirmative resolution, extend the functions of the Corporation to include such energy resources other than petroleum, as the order shall specify; and such order may contain such consequential or ancillary provisions as the Minister may consider necessary or desirable. The Corporation may enter into agreements or arrangements providing for the participation, assistance or cooperation of contractors in connection with the exploration, development or management of petroleum resources. Contractors shall be declared “specified contractor” by the Minister and shall have the right to enter any land and carry out thereon any operations connected with the exploration or development of petroleum resources.