(1) A person conducting petroleum activities under this Act shall conduct petroleum activities in a prudent manner and in accordance with applicable enactments, standards, best international practice and sound economic principles.

(2) Prudent petroleum activities as prescribed in subsection (1) include reasonable steps to

(a) optimize the ultimate recovery of petroleum from a petroleum field;

(b) prevent waste of petroleum;

(c) secure the health, safety and welfare of persons and communities; and

(d) protect the environment and ensure its sustainability.

(3) Petroleum activities shall be conducted in accordance with directives given, restrictions imposed or requirements made by the Minister, the Commission and other relevant agencies.