Cabinet moves to regulate Maldives’ offshore natural resources

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 a Cabinet meeting held on Sunday, August 30, 2026, following a proposal submitted by Minister of Fisheries, Agriculture and Ocean Resources Ahmed Shiyam.

Under the decision, the Ministry of Fisheries, Agriculture and Ocean Resources, together with other relevant authorities, will begin the necessary work related to the exploration and extraction of non-living natural resources within the country’s maritime territory.

The Cabinet has also decided to draft a special bill to regulate the sector. The proposed legislation will establish procedures for granting permits for exploration and extraction activities, determine ownership of resources that are extracted, and provide a framework for the effective regulation and management of the industry.

According to the President’s Office, the decision marks the beginning of the legal and administrative work required to assess the economic potential of the resources located within the Maldives’ maritime zones and ensure that any benefits derived from them are secured for the nation.

The move would establish a formal regulatory framework for resources such as oil, gas and minerals, which are currently not covered by a dedicated legal framework for exploration and extraction in the Maldives.