The AIEN 2023 International Model Joint Operating Agreement
This article for Practical Law by Nadine Amr provides a discussion of the 2023 Model Form of Joint Operating Agreement (JOA) of the Association of International Energy Negotiators (AIEN).
The article examines the JOA’s main provisions, including rights and duties of the operator, operating committee, work programs and budgets, contract awards, greenhouse gas provisions, exclusive operations, default, decommissioning and abandonment, transfers of interests, changes in control, withdrawal, anti-bribery and anti-corruption, economic sanctions, and human rights. It also addresses key issues that parties must consider when drafting and negotiating a joint operating agreement based on this model form.
Special thanks to Robert Tracy, Exxon Mobil, for his contributions to this Article.
This information is provided by Vinson & Elkins LLP for educational and informational purposes only and is not intended, nor should it be construed, as legal advice.