(1) The Minister may, by legislative instrument, make Regulations to prescribe for the matters that are necessary for carrying out or giving effect to this Act.

(2) Without limiting subsection (1), the Minister may make Regulations to provide for

(a) matters to ensure the safe construction, maintenance and operation of installations, facilities and equipment used in connection with petroleum activities;

(b) the health, safety and welfare of persons employed in or affected by petroleum activities;

(c) environmental protection, including the prevention of pollution and pollution damage and the taking of remedial action to prevent pollution damage as a result of petroleum activities;

(d) the inspection of areas in which petroleum activities are being carried out and of the plant, machinery and equipment within those areas;

(e) reporting of and inquiries into accidents arising out of petroleum activities for record purposes;

(f) keeping and inspection of records, accounts, statistics and plans with respect to petroleum activities;

(g) submission of information;

(h) the protection of fishing, navigation, and any other activities carried out within or in the vicinity of areas in which petroleum activities are being carried out;

(i) the standards for petroleum and petroleum products and their transportation;

(j) fiscal requirements, including terms and conditions for taxes, royalties, bonuses, fees, oil entitlement and, where applicable, ring-fencing;

(k) area management, including the establishment of a reference map, the opening of new areas, and the closure and redefinition of areas;

(l) procedures and conditions for the granting of petroleum agreements, including qualification requirements, terms and conditions for open and competitive tendering procedures and direct negotiations;

(m) the determination of the value of crude oil and natural gas;

(n) the determination of the domestic supply requirement;

(0) the conservation of natural resources and the avoidance of waste, whether petroleum or otherwise, of the land to which this Act applies;

(p) accounting procedures and reporting;

(q) the minimum conditions of service for workers engaged in petroleum activities;

(r) the terms and conditions of petroleum agreements;

(s) the rates or methods of setting the rates at which petroleum and water may be recovered from a well or a petroleum reservoir;

(t) the methods to be used for the measurement of petroleum, water and other substances from a well;

(u) the pressure maintenance in, or re-pressuring of, a petroleum reservoir and the recycling of petroleum;

(v) the terms and conditions under which the Corporation shall undertake the exploration, development and production of petroleum in association with a contractor under section 11 (2);

(w) the specified areas in which the exercise of rights of a contractor under this Act to carry out petroleum activities shall be restricted;

(x) the penalties for offences against the Regulations;

(y) local content and local participation;

(z) matters of health, safety, environment and welfare of communities;

(aa) contents of plan of development and operation, requirements and conditions for the plan and any other matter concerning the application and approval of the plan;

(bb) decommissioning and decommissioning fund;

(cc) the procedure to determine the payment of compensation to owners or occupiers of land where petroleum activities are carried out;

(dd) the contents of an application for reconnaissance licence, licensee qualification requirements, the scope of the licence, the f11rther conditions of the licence and the fee to be paid;

(ee) exploration activities, including exploration period and extension, relinquishment, work obligations and exploration drilling;

(ff) identification, designation and name of installations, facilities, wells and fields;

(gg) measures and requirements for emergency preparedness;

(hh) requirements relating to boundaries;

(ii) conditions and terms for safety zones;

(jj)) conditions for reporting and licensing of data;

(kk) conditions for the arrangement, contents of and keeping of the petroleum registry;

(ll) the contribution of contractors to the provision of security of the State;

(mm) the requirements relating to management systems;

(nn) conditions for third party access and stipulation of tariffs;

(00) compensation for affected lawful activities including fisheries; and

(pp) classifying companies as small or medium to achieve the object of this Act.

 (3) The Minister may issue guidelines for the implementation of the provisions of this Act and the guidelines shall be published in the Gazette.

(4) In connection with individual administrative directives, other conditions, than those mentioned in this Act, may be stipulated when they are naturally linked with the measures or the activities to which the individual administrative directive relates.