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Nigeria - 1969 Petroleum Act

  • Briefing

  • 1 January 2010

This is an act that provides for the exploration of petroleum from 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 in the Federal Government. It is organized into five sections: Oil Exploration Licences, Oil Prosepection Licenses and Oil Mining Licenses; Rights of Pre-Emption; Repeals; and Transitional And Savings Provisions.