An Act to make provision with respect to searching for and producing petroleum and for matters connected therewith.
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.