Guyana’s laws on petroleum exploration and production date back to the 1980s. The Petroleum (Exploration and Production) Act 1986 and its related Regulations form the main legislative and regulatory framework for the ‘exploration, exploitation, conservation and management of petroleum existing in its natural condition in land in Guyana, including the territorial sea, continental shelf and exclusive economic zone of Guyana’. The Guyana Geology and Mines Commission (GGMC) is responsible for planning and securing the development, exploitation and management of petroleum and to ensure that the citizens of Guyana derive the maximum benefit from such resource.
