The Oil and Gas Act 1998 (as amended) is the principal legislation that governs petroleum exploration and development and State Entitlement and Benefits in Papua New Guinea. It spells out the role and purpose of the legislation in key areas including the exploration, development, processing, and transportation and makes provisions for grant of benefits to traditional landowners, Local Level Governments and Provincial Governments arising from the production, processing and transportation of petroleum in Papua New Guinea.
Other Key Legislative include;
- Income Tax Act 1959 (as amended), Division 10 – Mining, Petroleum and Designated Gas Projects
- VAT Legislation and Stamp duty legislation
- Environmental Act 2000
- Environmental Contaminants Act (Chapter 368)
- Water Resources Act (Chapter 205)
- Mineral Resources Pty Ltd. (Privatization) Act 1996
- Resource Contracts Fiscal Stabilization Act 2000
- Organic Law on Provincial Governments and Local Level Governments
The Department of Petroleum & Energy is responsible for administering the Oil and Gas Act 1998, Unconventional Hydrocarbon Act 2015 and Oil and Gas Regulation 2002.