UN Convention on the Law of the Sea

This Convention seeks to develop the principles embodied in resolution 2749 (XXV) of 17 December 1970 in which the General Assembly of the United Nations solemnly declared inter alia that the area of the seabed and ocean floor and the subsoil thereof, beyond the limits of national jurisdiction, as well as its resources, are the common heritage of mankind, the
exploration and exploitation of which shall be carried out for the benefit of mankind as a whole, irrespective of the geographical location of States.