The Cabinet has decided to establish a dedicated legal framework governing the exploration and extraction of oil, gas, minerals and other non-living marine natural resources within the Maldives’ maritime zones.
The decision was made at the Cabinet meeting held on Sunday, 30 August 2026, following a paper submitted by Minister of Fisheries, Agriculture and Ocean Resources Ahmed Shiyam.
Under the decision, the Ministry of Fisheries, Agriculture and Ocean Resources, in collaboration with relevant authorities, will undertake the necessary work related to the exploration, extraction and associated activities involving non-living natural resources within Maldivian maritime zones.
The Cabinet also decided to draft a special bill to regulate the issuance of permits for the exploration and extraction of non-living marine natural resources, determine ownership of extracted resources, and establish mechanisms to effectively regulate and manage the sector.
The decision initiates the legal and administrative process to assess the economic potential of the Maldives’ maritime zones and establish a regulatory framework to ensure that any resources identified are responsibly managed and that their benefits are secured for the nation.