Special Legal Framework Being Formulated to Explore and Extract Offshore Oil, Gas, and Minerals in the Maldives

The Government of the Maldives has initiated efforts to establish a dedicated legal framework governing the exploration and extraction of offshore oil, gas, minerals, and other non-living natural resources within the nation's maritime domain.

The decision was finalized by the Cabinet during its meeting on Sunday, August 30, 2026, following a comprehensive policy paper submitted by Minister of Fisheries, Agriculture and Ocean Resources Ahmed Shiyam.

Under the Cabinet's resolution, the Ministry of Fisheries, Agriculture and Ocean Resources, in coordination with relevant state authorities, has been mandated to execute all necessary preliminary, legal, and administrative procedures. The Cabinet also approved the drafting of a dedicated bill to establish the regulatory mechanisms for licensing exploration and extraction, define the state's ownership rights over extracted resources, and effectively govern the development of the sector.

This strategic move officially sets in motion the practical legal and administrative groundwork required to evaluate the economic wealth of the nation's seabed and leverage these untapped natural resources to drive national economic growth.