framework for the petroleum sector including laws and decrees which contain all transparency provisions adopted internationally. A specific Law was enacted to Enhance Transparency in the Oil and Gas Sector (Law 84/2018), which is published on the LPA’s website in addition to the two Exploration and Production Agreements for blocks 4 and 9 signed with companies as a result of the first offshore licensing round.

The totality of the Offshore Petroleum Resources Law’s application decrees were issued as per the constitutional rules governing the issuance of decrees. Application decrees were issued by the Council of Ministers after the State Council ensured their legal compliance.

All operational procedures that companies undertake in light of petroleum activities development are subject to the approval of the Council of Ministers or to the Ministerof Energy and Water as per their mandate stipulated in the law and based on the opinion of the LPA.

The Minister of Energy and Water and the LPA submit periodic reports to the Parliament regarding the progress of petroleum activities. The Parliament is the body which exercises an oversight role on the executive authority’s performance.

As the sole owner of petroleum resources in its maritime borders, the State is an active participant in petroleum activities and it is a key partner in the Exploration and Production Agreements. What reinforces the active partnership the State exercises is that most of petroleum activities’ operational procedures are subject to the State’s approval, including but not limited to the following: The Minister of Energy and Water must approve the exploration plan. Drilling cannot