S.L. 156.1 Art. 3Types of licences and grant of rights to licensees.

(1) Any entity may apply in accordance with these regulations for:

(a) a prospection licence;

(b) an exploration licence; or

(c) an exploration and production licence.

(2) The licence for the prospection of petroleum shall grant the licensee the right to prospect, on a non-exclusive basis, for petroleum in an area for which the licence is granted, under the conditions and requirements of the licence granted. The Minister shall have the right, during the term of the prospection licence, unless otherwise agreed, to grant an exploration licence and, or an exploration and production licence on any part of, or all of the geographical area licensed under the prospection licence.

(3) The licence for the exploration of petroleum shall grant the licensee exclusive rights to explore for petroleum, by any appropriate method except drilling, in a geographical area or in a block or blocks or area or areas for which the licence was granted, under the conditions and requirements of the licence granted and the right for the licensee to convert the said licence into an exploration and production licence, in accordance with the provisions of the Act and these regulations.

(4) The licence for the exploration and production of petroleum shall grant the licensee exclusive rights to explore by any appropriate method including drilling and to produce petroleum in a geographical area or in a block or blocks or area or areas for which the licence was granted, under the conditions and requirements of the licence granted.