Petroleum (Exploration and Production) Act (Cap. 227).

This Act consists of 66 sections divided into 6 Parts: Preliminary (1); Administration (2); Licences (3); Financial (4); Offences and penalties (5); General (6).
Section1 contains a list of definitions. Sections 2 declares the property in, and control over, petroleum in its natural condition in land in the Republic is vested in the Republic and prohibits carrying on in any land in the Republic petroleum prospecting or development operations, except under, and in accordance with, a licence issued under this Act. A Commissioner for Petroleum Exploration and Production shall be appointed under section 5. Power of commissioner and authorised officers are defines in section 7. Subject to section 14, the Minister, on behalf of the Republic, may enter into an agreement not inconsistent with this Act with any person with respect for the grant of that person, or to any person including any body corporate to be formed identified in the agreement, of a licence on the conditions, if any, specified in the agreement. Section 14 specifies restriction on person to whom licence may be granted. Division 2 of Part 3 concerns the granting of Petroleum Prospecting Licences. The First Schedule applies with respect to relinquishment of land in a prospecting area. Divisions 3 concerns the (notification of) discovery of petroleum. Division 4 concerns the granting of Petroleum Production Licences. A petroleum production licence shall not be granted to an applicant unless the proposals of the applicant take proper account of environmental factors (sect. 30). The Minister may, by notice in writing served on a licensee, give to the licensee a direction, consistent with good oil-field practices, as to any matter with respect to which regulations may be made under section 65 and any such licensee who fails to comply with such direction is guilty of an offence (sect. 36). The Second Schedule defines certain rights relating to the use of land of holders of licences and lawful occupiers.