Independent Operations, Obligatory Operations and Challenge of Operator Provisions in Joint Venture Agreements

Authors

  • W. G. Brown

DOI:

https://doi.org/10.29173/alr542

Keywords:

Energy Law, Petroleum Law

Abstract

Although the concept of a joint venture is one of joint action, joint venture agreements in use in the oil and gas industry contain provisions for independent operations. This article discusses the need for independent operations clauses, the types of independent operations clauses, including obligatory operations clauses, the types of penalties and general problems which should be considered in the drafting of independent operations clauses. The article concludes with an analysis of the challenge of operator provisions in joint operating agreements.

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Issue

Vol 8, No 2: Petroleum Law Supplement: Oil and Gas Joint Venture Agreements

Section

Articles

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