A global review of joint operating agreement disputes

Abstract

The article identifies and analyses disputes that frequently arise from Joint Operating Agreements (JOAs) in the upstream oil and gas (O&G) business from around the globe. The topics discussed in this article are:    •  a brief introduction to JOAs, their use in the O&G industry, and their key principles and provisions   •  the development and use of model JOAs and Accounting Procedures;   •  customary industry practice regarding JOAs   •  O&G law regarding JOAs;   •  a review of reported court judgments and international arbitral awards that dealt with JOA disputes; and   •  an analysis of the trends in JOA disputes and lessons that can be drawn from those sources.