Overview

The document outlines the regulations for conversion and renewal of Oil Prospecting Licences (OPLs) and Oil Mining Leases (OMLs) under the Petroleum Industry Act (PIA) 2021. It specifies the scope, application process, and conditions for conversion or renewal. Key points include: applicability to sections 92-94 and 303(1) of the PIA; exclusion of renewals under section 86(6) and the Acreage Management and Drilling and Production Regulations 2022; parties to renegotiated production sharing contracts are not entitled to conversion; OPLs may be converted to OMLs prior to termination, otherwise no renewal; the Commission must publish an annual updated concession map. Applications must be made to the Commission by specified parties (concessionaire, joint venture, etc.) using prescribed forms including names, addresses, contact details, license/lease details, contract type, and operator name. Accompanying documents include a sworn affidavit/notarised declaration to abide by the Act, five hard copies of a map showing boundaries of proposed PPL, appraisal/retention/lease areas, selected leases, and relinquished areas, and an adequate survey description of boundaries. The regulations take effect from an unspecified date in 2022.

Download