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Deep Offshore and Inland Basin Production Sharing Contract (Amendment) Act, 2019 🇳🇬

Nigeria
Coat of Arms

Deep Offshore and Inland Basin Production Sharing Contract (Amendment) Act, 2019

  • Assented to on 4 November 2019
  • Commenced on 4 November 2019
  • [This is the version of this document from 4 November 2019.]
  • [Note: The original publication document is not available and this content could not be verified.]
AN ACT TO AMEND THE DEEP OFFSHORE AND INLAND BASIN PRODUCTION SHARING CONTRACT ACT CAP D3 LFN 2004 AND FOR OTHER MATTERS CONNECTED THERETOENACTED by the National Assembly of the Federal Republic of Nigeria as follows:

1. Amendment of the Deep Offshore and Inland Basin Production Sharing Contract Act CAP D3 LFN 2004.

The Deep Offshore and Inland Basin Production Sharing Contract Act CAP D3 LFN 2004 (in this Bill referred to as "the Principal Act") is amended as set out in this Bill.

2. Amendment of section 5.

The principal Act is amended in section 5 by substituting the existing section with a new section as follows :"5. Royalty by Price
(1)Royalties shall be calculated on a field basis. The royalty …

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