Deep Offshore and Inland Basin Production Sharing Contracts (Amendment) Decree (No. 26 of 1999).

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 of subsection (1) of this section, the provisions of this Decree shall be liable to review after a period of 15 years from the date of commencement and every 5 years thereafter." Section 18 of the principal Decree is amended by deleting the interpretation of the word "Joint Ventures".