Royal Decree No. M-27 of 7 September 1968 - Project regulations relating to ownership of Red Sea resources.

This Royal Decree declares that Saudi Arabia owns all the hydrocarbon materials and minerals ( resources ) existing in the strata of the seabed in respect to the zone extending in the Red Sea bed adjacent to the Saudi continental shelf. The Government of the Saudi Arabia Kingdom alone shall have the individual right to explore and mine these resources and to exploit them and nobody, public or private, national or foreign, can exercise any form of this right except with the express permit from the competent Saudi Authorities and in accordance with the regulations applicable in the Saudi Arabia Kingdom. The Ministry of Petroleum and Mineral Resources shall be the competent authority to supervise these resources and to apply the Saudi rules and regulations relating thereto. The application of these Regulations shall not affect the description of the high seas or obstruct navigation therein within the limits provided for by the established rules of public international law.