Petroleum Act, 2012. Country/Territory South Sudan Document type Legislation Date 2012 Source FAO, FAOLEX Subject Energy, Mineral resources Keyword Basic legislation Authorization/permit Business/industry/corporations Capacity building EIA Institution Oil Ownership Procedural matters Protection of environment Royalties/fees Standards Sustainable development Sustainable use Tax/levy Transport/storage Management/conservation Mining Soil conservation/soil improvement Zoning Geographical area Africa, Landlocked Developing Nations, Least Developed Countries, Northern Africa, Sahel Entry into force notes This Act enters into force on the date of its signature by the President (July 6, 2012). Abstract This Act, comprising 100 Articles divided into XXI Chapters, aims to (i) provide a regulatory framework for the development and management of petroleum activities and other ancillary matters related to petroleum activities; (ii) establish a National Petroleum and Gas Commission, and applies to all petroleum activities within the territory of the Republic of South Sudan, including activities in, under, and upon its land. The principles and objectives for the development and management of petroleum in South Sudan, as per Article 7, include (i) ownership by the people of South Sudan and management by the Government; (ii) contribution to economic prosperity and human development; (iii) ethical, efficient, transparent, and accountable management based on sustainability; (iv) equitable distribution of petroleum-derived revenues among the people; (v) maximizing the value of petroleum resources for current and future generations; (vi) utilizing best international practices and technology to minimize environmental damage; (vii) ensuring an adequate domestic supply of petroleum for the people's needs; (viii) promoting fair competition to enhance productivity and efficiency in the petroleum sector. Article 8 establishes the following basic principles: the ownership of petroleum in South Sudan is vested in the government, which is responsible for its development and management for the benefit of the people, and petroleum activities can only be conducted with the appropriate license or agreement. Full text English Website mofp.gov.ss