Offshore Leasing

Offshore leasing involves renting or acquiring rights to explore and develop natural resources, like oil and gas, below the seabed in areas outside a country's coastlines. Companies or governments lease these submerged zones from the governing authority, typically through a bidding process. This allows them to extract valuable resources from the ocean floor for energy production and other uses. The lease agreements specify the terms, duration, and responsibilities, ensuring responsible exploration while managing environmental and economic considerations.