Administrative and legal proceedings commence to explore and extract oil, gas, and minerals within Maldives' maritime territory
31 އޯގަސްޓު 2026 | ހޯމަ 18:22The Cabinet has decided to draft a specialized bill to govern the exploration and extraction of non-living resources, such as oil and gas, within the Maldives' maritime territory. According to the President's Office, administrative work has officially commenced following a proposal by the Ministry of Fisheries to establish a legal framework for determining the ownership of these resources and outlining the procedures for issuing exploration licenses.
The Cabinet has decided to formulate a specialized legal framework for the exploration and extraction of oil, gas, and minerals within the Maldives' maritime territory. | Presidents Office
The Cabinet has decided to establish a specialized legal framework for the exploration and extraction of oil, gas, minerals, and other non-living natural resources within the Maldives' maritime territory.
The President's Office stated that the Cabinet reached this decision during its session on Sunday, August 30, 2026, following a proposal submitted by the Minister of Fisheries, Agriculture and Ocean Resources Ahmed Shiyam.
In this regard, the Cabinet has decided to direct the Ministry of Fisheries, Agriculture and Ocean Resources, along with other relevant authorities, to initiate all necessary procedures for the exploration and extraction of non-living natural resources within the Maldives' territory. Furthermore, the Cabinet resolved during this session to draft a specialized bill aimed at regulating the industry. This legislation will establish frameworks for granting exploration and extraction permits, determining the ownership of extracted resources, and ensuring the structured development and management of the sector.
The President's Office stated that following this Cabinet decision, official legal and administrative efforts have now commenced to survey the economic potential of the Maldives' maritime territory and ensure these resources are utilized for the benefit of the nation.
