The long-awaited regulations on Onshore Petroleum Operations has been approved by the Decree-Law 18/2020, of 13 May 2020 (“Onshore Regulations”).
The Onshore Regulations shall enter into force ninety (90) days as of its publication in the Official Gazette and supersede all previous laws and regulations which contradict its provisions.
The statute shall apply to all onshore petroleum operations carried-out pursuant to the Petroleum Activities Act (Law 13/2005, of 2 September 2005, as amended), including any installations located onshore which are used in the petroleum operations. The Onshore Regulations shall not apply to downstream activities, which will continue to be governed by specific statutes.
The approval of the Onshore Regulations is a crucial milestone in context of the country’s second licensing round with a total of 18 new blocks on tender, 7 of which are located onshore.
For more information visit www.vda.pt.