Petroleum Act No. 387 of 1949. Country/Territory Philippines Document type Legislation Date 1949 Source FAO, FAOLEX Long titleAn Act To Promote The Exploration, Development, Exploitation, And Utilization Of The Petroleum Resources Of The Philippines; To Encourage The Conservation Of Such Petroleum Resources; To Authorize The Secretary Of Agriculture And Natural Resources To Create An Administration Unit And A Technical Board In The Bureau Of Mines; To Appropriate Funds Therefore; And For Other Purposes Subject Mineral resources Keyword Oil Minerals Access right Authorization/permit Concession Exploration Use restrictions Geographical area Asia, Asia and the Pacific, East Asian Seas, North Pacific, South-Eastern Asia Entry into force notes on 18 June 1949, date of its approval. Abstract The Republic Act is divided in Chapters as follows: I, General Provisions; II, Concessions; III, Non-Exclusive Exploration Permit; IV, Exploration Concession; V, Exploration Concession; VI, Refining Concession; VII, Pipe Line Concession; VIII, Penalties And Extinction Of Rights; IX, Officials In Charge And Duties; X, Final Provisions. The provisions apply to mineral oil, hydrocarbon gas, bitumen, asphalt, whose ownership is vested in the State that shall concede the exploration and exploitation licences to individuals and companies in order to obtain and dispose of those mineral natural resources. Full text English