[Read ePUB] Joint Operating Agreements: Risk Control for the Non-Operator, Second EditionAuthor Eduardo G Pereira – Biorganicenergy.co

Joint operating agreements JOAs are well accepted standard agreements in the oil and gas industry which regulate the relationship between the parties to a joint venture the operator and the non operator Traditionally, the operator is responsible for performing operations on behalf of the consortium, while the non operator is responsible for contributing to the financial commitments of the joint venture However, due to the strong position typically maintained by the operator, this structure does not always accurately reflect the non operator s position Unbalanced agreements can create uncertainty, increase the risk of litigation and even jeopardise the very existence of the consortium Therefore, it is essential to understand the position of both parties in order to ensure a fair and reasonable negotiation, and this fully updated second edition provides an in depth analysis of the JOA from the perspective of the non operator Coverage includes an examination of the relationship between operators and non operators under general law, and an analysis of the critical issues facing non operators in a JOA In addition, this book reveals how a non operator can seek to protect its interests initially through tight control of operations and expenditures, and ultimately through adequate remedies to remove the operator and or restrict its liability Further, this edition provides recommendations to address these concerns and also includes the JOA model form from Mozambique as well as reviews of other JOA model forms explored in the first edition JOAs are relevant to law, finance, human resources and operations This book provides invaluable practical guidance for in house counsel, private practitioners, executives, academics, international oil companies, national oil companies, independents and anyone interested in investing in the upstream sector