Section 1: Vesting of petroleum in the State, etc.

(1) The entire ownership and control of all petroleum in, under or upon any lands to which this section applies shall be vested in the State.
(2) This section applies to all land (including land covered by water) which-
(a) is in Nigeria; or
(b) is under the territorial waters of Nigeria; or
(c) forms part of the continental shelf; or
(d) forms part of the Exclusive Economic Zone of Nigeria.
(3) In this section, references to "territorial waters" are references to the expression as defined in the Territorial Waters Act.