PETROLEUM ACT

ARRANGEMENT OF SECTIONS

PART I
Preliminary

   1   Short title

   2   Interpretation

 

PART II
Vesting of Petroleum

   3   All petroleum in its natural state in strata vested in the Crown

   4   Control of certain operations relating to petroleum

 

PART III
The Petroleum Corporation of Jamaica

   5   Establishment of the Petroleum Corporation of Jamaica

   6   Functions of the Corporation

   7   Policy directions and guidelines

   8   Borrowing powers

   9   Advances, grants and guarantee of borrowings

   10   Repayment of, and interest on, advances and sums issued to meet guarantees

   11   Securities

   12   Reserve fund

   13   Accounts and audit

   14   Annual reports and estimates

   15   [Deleted by Act 28 of 2003 s 2.]

   16   [Deleted by Act 28 of 2003 s 2.]

   17   Power to appoint secretary and other staff and agents

 

PART IIIA
The Petrocaribe Development Fund

      Interpretation

   17B   Establishment of the Patrocaribe Development Fund

   17C   Functions of the Fund

   17D   Establishment of Board of Management

   17E   Policy directions

   17F   Payment into Fund

   17G   Issue of Promissory Notes

   17H   Application of revenue

   17I   Power to invest money

   17J   Accounts and audit

   17K   Annual Report

   17L   Exemption from income tax

 

PART IV
Miscellaneous

   18   Specified contractors

   19   General rights to enter land and carry on operations thereon

   20   Notice to owner and occupier of land, and security for compensation

   21   Compensation to owner and occupier of land

   22   [Deleted by Act 36 of 1995 Sch.]

   23   [Deleted by Act 36 of 1995 Sch.]

   24   [Deleted by Act 36 of 1995 Sch.]

   25   [Deleted by Act 36 of 1995 Sch.]

   26   Regulations

   27   Offences

      Seizure of petroleum prior to conviction

   27B   Additional penalties

   28   Extension of laws of Jamaica to certain areas and vessels

      SCHEDULES*

 

THE PETROLEUM ACT

[Date of Commencement: 15th July, 1979]

Acts
12 of 1979,
12 of 1985,
11 of 1990,
16 of 1991
33 of 1991
36 of 1995,
28 of 2003,
16 of 2006.

PART I
Preliminary (sections 1-2)

1   Short title

   This Act may be cited as the Petroleum Act.

2   Interpretation

   In this Act-

   "chairman" means the chairman of the Corporation;

   "contractor" means any person, firm or entity with whom the Corporation has entered into any agreement for the exploration and development of petroleum resources and the refining, processing, marketing, trading, exporting or importing of petroleum or petroleum products,

   "the Corporation" means the Petroleum Corporation of Jamaica established under this Act,

   "debenture" includes debenture stock,

   "development" means the drilling and completion of wells, the production of petroleum, and the carrying on of activities related thereto, after the discovery of petroleum;

   "energy resource" means petroleum, oilshale, tarsand, coal of any form, peat and any other hydrocarbon resource, material or substance containing or capable of creating energy in any form;

   "exploration" means search for petroleum by geological and geophysical methods, the drilling of a test well or wells to discover petroleum and the carrying on of other activities related to those activities;

   "functions" includes powers and duties,

   "oil" means crude petroleum oil and other liquid hydrocarbons, including liquid hydrocarbons known as distillate or condensate recovered or extracted from gas;

   "passageway" means any highway, road, street, footpath, right of way, easement, or any in stall at on of any railway, tramway, wireline, conveyor belt, cable way, chute, pipe, sewer, drain, tunnel, channel or duct;

   "petroleum" means oil, natural gas or any other form of hydrocarbon substance but does not include coal or bituminous shale or any other stratified deposit from which oil can be extracted by destructive distillation;

   "petroleum product" means any product derived from petroleum by any refining process;

   "public water" has the same meaning as in the Water Act;

   "specified contractor" means any contractor declared under section 19 to be a specified contractor.

PART II
Vesting of petroleum (sections 3-4)

3   All petroleum in its natural state in strata vested in the Crown

   There is hereby vested in the Crown all petroleum existing in its natural state in strata in Jamaica including the bed and subsoil of its territorial sea, its continental shelf and the exclusive economic zone.

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