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What are the primary laws and regulations governing the oil and gas industry in your jurisdiction?
The primary laws and regulations governing the oil and gas industry are:
- the Constitution;
- the Organic Hydrocarbons Law; and
- the Gaseous Hydrocarbons Law and Regulations.
Which government bodies regulate the oil and gas industry and what is the extent of their powers?
The Ministry of the People’s Power for Petroleum is the main administrative body in the oil and gas field.
The ministry has the broadest powers when it comes to oil and gas. Within the ministry, there are several vice-ministries which actively participate in day-to-day operations.
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