Resource information
Section 3 prescribes that no person shall explore, prospect or mine for petroleum except by virtue of an exploration licence or a petroleum agreement issued or entered into the provisions of this Act. Any person desirous of exploring, prospecting or mining for petroleum may apply to His Majesty in Council for an exploration licence or a petroleum agreement in respect of any area of land. Section 5 sets out the manner in which application may be made. His Majesty in Council may issue in respect of the same area of land more than one exploration licence. An exploration licence shall ordinarily be in the form and contain the terms and conditions of a model exploration licence (sect. 7). Upon an application His Majesty in Council may enter with the applicant into a petroleum agreement in respect of any area or areas of land for which such application has been made. Regulation making powers of His majesty in Council are set out in section 11. Section 13 concerns permission to enter upon alienated land by a licensee or person being a part of a petroleum agreement and compensation for damage to the holder of alienated land. (15 sections)
Implemented by: Petroleum Mining Regulations. (1988)
Amended by: Miscellaneous Amendments (Privy Council) Act 2010 (No. 42 of 2010). (2010-10-01)