This Framework Law, consisting of 85 articles divided into 18 Chapters, establishes the basic law for petroleum operations. This framework law establishes the rules of access, execution and performance of all oil operations carried out in Sao Tome and Principe and the Exclusive Economic Zone (EEE), regulating the principles of organization, authorization for oil operations, the rules and bidding process, the state participation, activity development, oil contracts, development of oil operations, etc. aiming to prevent damage to the environment, carrying out environmental impact evaluation studies and audits, landscape recovery plans and contractual and environmental management and permanent mechanisms. The National Petroleum Agency has its competences and functions under this law and the other applicable of the São Tome state, including Law No. 5/2004 of 30 June, under the Ministry of oil affairs, in order to ensure; a) Effective resources management; b) Oil exploitation with the minimum losses to the environment, whether economically sustainable, promoting additional investments and contributing to the long -term development of Sao Tome and Principe; c) Equitable development of the oil resources, according to the principles of transparency and openness; d) Whole process is consistent with the best techniques and practices of the oil industry. No individual or collective entity, including landowners, can perform oil operations, without prior authorization granted under the terms and conditions of this Law.
سان تومي وبرنسيبي · 2009-12-31