Section 4

The State Party may invite persons to bid for a petroleum mining

Agreement in respect of any Onshore State Land or Offshore State Land for the purposes of exploration, prospecting for and the mining of petroleum or any of them, and any person so bidding shall conform to such terms and

Petroleum Mining 8

conditions as are imposed by the State Party in the invitation to bid. Any person so bidding is referred to in the Act as the applicant.