(1) Data and information obtained by a licensee, contractor, sub-contractor or the Corporation as a result of petroleum activities and the geological, geophysical, technical, financial and economic reports, studies, interpretations and analyses prepared by or on behalf of a licensee, a contractor, sub-contractor or the Corporation in connection with petroleum activities shall be the property of the Republic.

(2) Subject to section 53 (5), a licensee, contractor or sub-contractor may, for the duration of a licence or petroleum agreement, use the data and information under subsection (1).

(3) The licensee, contractor, sub—contractor or Corporation shall provide to the Commission data and information as well as the reports, studies, interpretations and analyses under subsection (1).

(4) The Commission may permit a licensee, contractor, subcontractor or the Corporation to market the right of use to geological, geophysical and technical data, reports, studies and interpretations on terms to be agreed.

(5) The Commission may provide any data or information to the Corporation for its use.