You will require this permit if you intend to mine for petroleum in an offshore area. This permit provides an exclusive right to explore for petroleum, recover petroleum on an appraisal basis, carry on such operations, and execute such works as necessary for those purposes, in the permit area.
It also allows exploration, works and operations in the permit area for a potential greenhouse gas injection site.
There are four types of petroleum exploration permit:
- work-bid
- cash-bid
- special (granted over a surrendered block or certain other blocks)
- boundary-change
Please note that there are a limited number of permits. Work-bid permits are offered to the most deserving applicant, while cash-bid permits are offered to the highest bidder.
