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Home»Law and Cases»Legislation»Deep Offshore and Inland Basin Production Sharing Contracts (Amendment) Decree (No. 26 of 1999).
Deep Offshore and Inland Basin Production Sharing Contracts (Amendment) Decree (No. 26 of 1999).
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Section 17 of the principal Decree is amended and now reads: (1) "The provisions of this Decree shall be subject to review to ensure that if the price of crude oil at any time exceeds $20 per barrel, real terms, the share of the Government of the Federation in the additional revenue shall be adjusted under the Production Sharing Contracts to such extent that the Production Sharing Contracts shall be economically beneficial to the Government of the Federation. (2) Notwithstanding the provisions o
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Deep Offshore and Inland Basin Production Sharing Contracts (Amendment) Decree (No. 26 of 1999).