Petroleum Regulations.

The regulations provide for the exploitation of petroleum as natural gas or crude oil or liquid, gaseous, solid or semisolid hydrocarbons as well as sulphur, helium and other hydrocarbon-like compounds. Contractors must apply for a Production Permit in order to start mining operations. Production areas must be mapped and demarcated before starting any exploration or drilling. Concession for the extraction of both petroleum and derivates shall be ratified in Contract years and shall initiate as per the date of the Contract.