Common Contracts

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May 5th, 2020

• Filed
  May 5th, 2020

THIS PETROLEUM LICENSE NO: 000-000-2012, made this ___ day of 201*, by and between the Government of the Republic of Sierra Leone (hereinafter referred to as “the State”), represented by the Director General of the Petroleum Directorate of the Office of the President of the Republic of Sierra Leone (hereinafter referred to as the “Director General”) and……. hereinafter referred to as “Licensee”). W I T N E S S E T H: 1. All Petroleum existing in its natural state within Sierra Leone is the property of the Republic of Sierra Leone and held in trust by the State. 2. The Director General acting on behalf of the President and Government of Sierra Leone has by virtue of the Petroleum Act of 2011 the right to invite Licensees to undertake Exploration, Development and Production of Petroleum over all blocks declared by the State to be open for Petroleum Operations. 3. The Director General has been authorized to enter into a Petroleum License with a Licensee for the purpose of Exploration, Deve