Contract areas.
Section 10
SEC. 10. Contract areas. — Subject to Section eighteen hereof, a contractor or its affiliate may enter into one or more contracts with the Government. Contracts for off-shore areas may cover any portion beneath the Philippine territorial waters or its continental shelf, or portion of the continental slope, terrace or areas which are or may be subject to Philippine jurisdiction: Provided, That for off-shore areas beyond water depths of 200 meters, the Petroleum Board may provide for more liberal terms than that provided for herein with respect to contract area, exploration period and relinquishment.