The duration of an oil prospecting licence relating to production sharing contracts in the deep offshore and inland basin shall be determined by the Minister charged with responsibility for matters relating to petroleum and shall be for a minimum period of five years and not exceeding ten years.
Nigeria Tax Act 2025 · Chapter 3 · Part III
Section 102Duration of oil prospecting licence
Cite as: Nigeria Tax Act 2025, section 102
Source: Nigeria Tax Act, 2025 (Act No. 7 of 2025), Official Gazette No. 117, Lagos, 26 June 2025. General information, not legal advice.