This Regulation covers the terms and conditions regarding petroleum exploration and management license, duties, rights and liabilities concerning exploration warrant transactions, licensing and all other issues related to the application of the Law. This Regulation becomes effective as of its publication date December 11, 2013.
In accordance with the Regulation, the application is made on line by filling out the necessary forms and documents along with the deposition of the fees. The application is primarily evaluated upon the business and investment plan undertaken in the licensed area and the execution of such plan throughout the years. The applicant of its authorized representative may be called for interview if necessary.
The applicant who is granted the license shall submit damage warrant to the General Directorate within 15 days at the latest following the delivery.
It is deemed to waive from the application unless the warrant is submitted or submitted in the complete amount.
Search license is granted in two regions such as land and sea and the period is 5 for land and 8 for sea. Discovery notification is made to the General Directorate is manageable petroleum reservoir is found in the search well. The license period may be extended twice for 10 years of period in the event that production schedule is found eligible.
The ongoing petroleum transactions may be investigated on site at every stage of the production. The petroleum right owner or his contractor or facility responsible may not refrain from informing the authorities stating that such information is confidential.
Disputes that may arise shall be resolved in negotiation by the Ministry. Minister resolutions may be filed at the Council of State.
Previously granted licenses shall remain valid until the ending date of their period.