Offshore Petroleum Royalty Act (S.N.S. 1987, c. 9). Country/Territory Canada Territorial subdivision Nova Scotia Document type Legislation Date 1987 Source FAO, FAOLEX Long titleAn Act respecting petroleum Royalties in the offshore. Subject Mineral resources Keyword Oil Natural gas Royalties/fees Geographical area Americas, Arctic, Asia and the Pacific, East Pacific, North America, North Atlantic Abstract The present Act lays down comprehensive provisions relating to an offshore petroleum royalty regime which is designed to recognize the inherent risk involved in offshore oil and gas exploration and production. The generic royalty regime is explicitly designed to encourage risk-taking by offering lower royalties for government the first project in a new area - a so called "high risk project". The text consists of 71 sections divided into 2 Parts. Full text English Website www.gov.ns.ca References - Legislation Implemented by Offshore Petroleum Royalty Regulations (N.S. Reg. 71/99). Legislation | Canada | 1999 (2007) Keyword: Oil, Natural gas, Royalties/fees Source: FAO, FAOLEX