Winner — Mondaq Thought Leadership Award (2024, 2025 & 2026)
Oil Mining Lease (OML) Practice
Petroleum Mining Leases (PML), Commercial Petroleum Extraction, Asset Divestments & Royalty Negotiations
An Oil Mining Lease (OML)—designated under the Petroleum Industry Act (PIA 2021) as a Petroleum Mining Lease (PML)—grants an energy company exclusive authorization to extract, process, and sell petroleum resources upon proving commercial oil discovery. Nomos Legal Practice assists energy companies in converting prospecting titles into 20-year mining leases, negotiating government royalty rates with NUPRC, managing asset acquisitions, and maintaining statutory environmental compliance
OML / PML Application & Title Conversion
Preparing technical proofs of commercial oil discovery, filing conversion applications from PPL/OPL to 20-year Petroleum Mining Leases, and securing Ministerial approvals.
Royalty Negotiations & Fiscal Advisory
Negotiating statutory royalty payment percentages, production tax terms, and fiscal obligations with the NUPRC and federal revenue bodies.
Asset Acquisition, Divestment & Environmental Compliance
Conducting due diligence for oil block acquisitions or farm-outs, managing asset divestments, and ensuring strict compliance with environmental remediation protocols.
Securing An Oil Mining Lease Renewal Or Acquiring Producing Petroleum Assets?
Consult with our petroleum mining legal practitioners at Tafawa Balewa Square (TBS), Lagos Island