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Deep Offshore and Inland Basin Production Sharing Contracts Act, 1993 🇳🇬


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Deep Offshore and Inland Basin Production Sharing Contracts Act, 1993

  • Published on 23 March 1999
  • Assented to on 1 January 1993
  • Commenced on 1 January 1993
  • [This is the version of this document at 4 November 2021.]
  1. [Repealed on 1 January 2026 by Nigeria Tax Act, 2025 (Act 7 of 2025)]
An Act to, among other things, give effect to certain fiscal incentives given to the oil and gas companies operating in the Deep Offshore and Inland Basin areas under production sharing contracts between the Nigerian National Petroleum Corporation or other companies holding oil prospecting licenses or oil mining leases and various petroleum exploration and production companies.

1. Production sharing contracts

Notwithstanding anything to the contrary contained in any other enactment or law, the provisions of this Act shall apply to all production sharing contracts as defined in section 17 of this Act.

2. Duration of oil prospecting licences

The duration of an oil prospecting licence relating to production sharing con…

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