Petroleum Act, 1969 🇳🇬

Nigeria

Petroleum Act, 1969

Assented to on 27 November 1969
Commenced on 27 November 1969
[This is the version of this document from 27 November 1969.]
[Note: The original publication document is not available and this content could not be verified.]

An Act to provide for the exploration of petroleum from the territorial waters and the continental shelf of Nigeria and to vest the ownership of, and all on-shore and off-shore revenue from petroleum resources derivable therefrom in the Federal Government and for all other matters incidental thereto.

1. Vesting of petroleum in the State, etc.

(1)The entire ownership and control of all petroleum in, under or upon any lands to which this section applies shall be vested in the State.

(2)This section applies to all land (including land covered by water) which—

(a)is in Nigeria; or

(b)is under the territorial waters of Nigeria; or

(c)forms part of the continental shelfs; or

(d)forms part of the Exclusive Economic Zone of Nigeria.

(3)In this section references to “…

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