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Offshore Petroleum (Licensing) Regulations 1995 (S.R. & O. No. 13 OF 1995).

Country/Territory
Falkland Islands (Malvinas)
Document type
Regulation
Date
1995
Source
FAO, FAOLEX
Subject
Mineral resources, Sea
Keyword
Concession Exploration Mining Oil Authorization/permit Maritime zone
Geographical area
Americas, Atlantic Ocean Islands, Latin America and the Caribbean, South America, South Atlantic
Abstract

This document contains the Regulations for granting and managing licences to search and bore for, and get, petroleum in the sea bed and subsoil under the controlled waters of the Falkland Islands. The licence is granted by the Governor for an initial term of five years, which can be extended for further terms subject to the performance of the licensee and the approval of the Governor. The licensee may also surrender or determine the licence or part of the licensed area under certain conditions. The licensee shall pay to the Governor acreage rent and royalty based on the value of the petroleum obtained from the licensed area. The licensee shall also submit statements and accounts to the Financial Secretary of the Falkland Islands in accordance with Schedule 3 of the document. The licensee shall measure the quantity and quality of the petroleum obtained from the licensed area in a manner approved by the Governor and keep records of the same. The licensee shall also allow the Governor or his authorised representatives to inspect and verify the measurements and record

Full text
English
Website
legislation.gov.fk

References - Legislation

Implements

Offshore Minerals Ordinance 1994 (Ordinance No. 16 of 1994).

Legislation | Falkland Islands (Malvinas) | 1994

Keyword: Maritime zone, Mining, Exploration, Oil, Authorization/permit, Pollution control, Protection of environment, Offences/penalties, Marine area, Marine pollution, Oil pollution

Source: FAO, FAOLEX