DEEP OFFSHORE AND INLAND BASIN PRODUCTION SHARING CONTRACTS (AMENDMENT) ACT, 2019

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[EDITOR’S NOTE: This Act amends the Deep Offshore and Inland Basin Production Sharing Contracts Act, 2004, which was initiated by way of a Decree, the Deep Offshore and Inland BAsin Production Sharing Contracts (Amendment) Act, 1999 and which was subsequently amended by the Deep Offshore and Inland Basin Production Sharing Contracts (Amendment) Decree No 26 of 1999

THE DEEP OFFSHORE AND INLAND BASIN PRODUCTION CONTRACT, CAP D3 LFN 2004 (AMENDMENT) ACT, 2019

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EXPLANATORY MEMORANDUM

An Act to amend the Deep Offshore and Inland Basin Production Sharing Contract, Cap. D3, LFN 2004 and for other matters connected thereto.

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DEVELOPMENT HISTORY OF BILL LEADING TO ACT

1^ST READING: THURSDAY, 3^RD OCTOBER, 2019

2^ND READING: TUESDAY, 10^TH OCTOBER, 2019

3^RD READING: TUESDAY, 15^TH OCTOBER, 2019

ARRANGEMENT OF SECTIONS

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

2.       Amendment of section 5.

3.       Deletion of section 16.

4.       Insertion of new section 17.

5.       Insertion of new  section 18.

6.       Short title.

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THE DEEP OFFSHORE AND INLAND BASIN PRODUCTION CONTRACT, CAP D3 LFN 2004 (AMENDMENT) ACT, 2019

An Act to amend the Deep Offshore and Inland Basin Production Sharing Contract, Cap. D3, LFN 2004 and for other matters connected thereto.

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[COMMENCEMENT]                                      (NOVEMBER 4, 2019)

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1.       Amendment of the Deep Offshore and Inland Basin Sharing Contract A

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