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Law No. 8/2004 on oil resources.

Country/Territory
Sao Tome and Principe
Document type
Legislation
Date
2004
Source
FAO, FAOLEX
Subject
Mineral resources
Keyword
Oil Basic legislation Management/conservation EEZ-Exclusive Economic Zone Environmental planning Exploration Special fund Policy/planning Research Authorization/permit Maritime zone
Geographical area
Africa, Central Africa, Least Developed Countries, Small Island Developing States
Entry into force notes
This Law enters into force five days after its publication.
Abstract

This Law, composed of 33 articles divided in six Chapters, regulates management, use and control of national oil resources. In particular, it regulates bank accounts set-up for oil activities purposes, and establishes a permanent fund operating at national level for financing oil extraction and other related activities. Moreover, the Law defines a Policy for Oil Management and Research and regulates monitoring and control activities. Particular attention is paid to tender and concession procedures in oil resources management, requiring transparency and public access to information. Finally, the Law provides applicable sanctions and penalties.

Full text
Portuguese
Website
www.earthinstitute.columbia.edu