Filipino Participation Incentive.
Section 28
SEC. 28. Filipino Participation Incentive. —The Contractor under a service contract in which Philippine citizens or corporations have a minimum participating interest of fifteen per cent in the contract area may subject to reasonable conditions imposed by the Petroleum Board be granted a government subsidy, commensurate with the scope of Filipino participation, i.e., a Filipino participation incentive, not exceeding seven and one-half per cent, which shall be computed by deducting the said allowance from the posted or market price, whichever is the higher, of crude oil exports produced in the contract area, and from the market price of crude oil produced in the contract area, sold or disposed of for consumption in the Philippines.