Section 17: Interpretation (As amended by Section 2(2) of the Deep Offshore and Inland Basin Production Sharing contracts (Amendment) Act 1999)

In this Act, unless the context otherwise requires-
"Corporation" means the Nigerian National Petroleum Corporation;
"contractor" means any petroleum exploration and production company which has entered into a production sharing contract agreement with the Corporation or entered into an agreement or arrangement with any Nigerian holder of an oil prospecting licence or an oil mining lease within the Deep Offshore and Inland Basin;
"Deep Offshore" means any water depth beyond 200 metres;
"holder" means any Nigerian company who holds an oil prospecting license or oil mining lease situated within the Deep Offshore and Inland Basin under the relevant provision of the Petroleum Act;
"Inland Basin" means any of the following Basins, namely, Anambra, Benin, Benue, Chad, Gongola, Sokoto and such other basins as may be determined, from time to time, by the Minister;
"Minister" means the Minister charged with responsibility for matters relating to petroleum
and "Ministry" shall be construed accordingly;
''parties'' includes the Corporation or any Nigerian company as the holder and the Contractor;
''production sharing contracts" means any agreement or arrangements made between the Corporation or the holder and any other petroleum exploration and production company or companies for the purpose of exploration and production of oil in the Deep Offshore and Inland Basins;
"Service" means the Federal Inland Revenue Service.