چکیده:
In recent years, technologies have been developed which have made it possible to commercially develop vast quantities of petroleum and natural gas resources that were previously known to exist but which could not be commercially developed using conventional techniques. When the co-owners of petroleum and natural gas rights decide to use a joint venture structure, they typically enter in to a joint operating agreement (joa) to govern operations relating to the jointly owned petroleum and natural gas rights. A JOA is the constitution which the tenants in common that co-own the joint land right must adhere to for the duration of their co-ownership. Where it is held by several persons, the concession typically that those persons will be jointly and severally liable to the government for the proper performance of the terms of the concession. This means that government could, if it so wished, look to enforce the terms of the concession against any one the parties which are together the concession holders. The JOA reallocates the position of joint and several liabilities between the parties through provision that the party’s liability inter se will be apportioned according to several predetermined share. The JOA typically relates to a single concession and applies in respect of petroleum operations in the area which is identified within that concession.
In recent years, technologies have been developed which have made it possible to commercially develop vast quantities of petroleum and natural gas resources that were previously known to exist but which could not be commercially developed using conventional techniques. When the co-owners of petroleum and natural gas rights decide to use a joint venture structure, they typically enter in to a joint operating agreement (joa) to govern operations relating to the jointly owned petroleum and natural gas rights. A JOA is the constitution which the tenants in common that co-own the joint land right must adhere to for the duration of their co-ownership. Where it is held by several persons, the concession typically that those persons will be jointly and severally liable to the government for the proper performance of the terms of the concession. This means that government could, if it so wished, look to enforce the terms of the concession against any one the parties which are together the concession holders. The JOA reallocates the position of joint and several liabilities between the parties through provision that the party’s liability inter se will be apportioned according to several predetermined share. The JOA typically relates to a single concession and applies in respect of petroleum operations in the area which is identified within that concession.
خلاصه ماشینی:
/ A Study of the Legal and Social Causes Requirements of International Oil Companies to Enter into Joint Operating Agreements (JOAs) Nejad Ali Almasi 1, Sahel Aalikhani 2* 1.
When the co-owners of petroleum and natural gas rights decide to use a joint venture structure, they typically enter in to a joint operating agreement (joa) to govern operations relating to the jointly owned petroleum and natural gas rights.
A Study of the Legal and Social Causes Requirements of International Oil Companies to Enter into Joint Operating Agreements (JOAs).
The best scenario to leverage these risks is sharing them through joint development agreements, the most common of which is the JOA.
One of the feature of the joint venture is common ownership of assets; it strengthens the sharing of risk, makes the relationship closer.
An Operator is assigned by the parties to a JOA to act on the side of the joint venture.
In a JOA a project is funded by the operator making calls upon the co-venturers to increase their respective shares of the expenditure in compliance with the terms of their agreements.
3. Discussion Joint venture incorporates an agreement between the parties for an enterprise developed for a single project, involving a sharing of project risk.
The main difference between the JOAs and the joint venture is the possibility of sub-ventures formed through the sole risk and non-consent operations.
P: The Joint Operating Agreement: Oil and Law. London.