seabed leasing and rights

Seabed leasing involves authorities granting companies or organizations the rights to explore and extract resources—such as minerals, oil, or gas—from beneath the ocean floor. These rights are usually given through licenses or leases for a specified period, ensuring responsible use and environmental safety. The leasing process defines who has the legal authority to operate, what activities are permitted, and how profits are shared. It helps manage ocean resources sustainably while enabling economic development, research, and industry activity in marine environments.