Aipn Joint Operating Agreement
The provisions on the presentation of work programmes and budgets, evaluation, development and production plans will be extended in the framework of the OJA 2012, with the possibility of including costs, resources and staff estimates (Article 6.1.C). There are new provisions on the procedure for the submission of work programmes and approval budgets by the Government, either after approval by the works council or where the works council has not reached a decision within the time limits set in the absence of such authorisation (Article 6.1.G). This new provision reduces the risk of government approval being denied by delays on the part of the works council and increases the pressure on non-operators to approve a work programme and budget. There is also a new optional provision according to which, for each draft urban plan, an estimated dismantling programme and budget must be submitted to the works council for consideration (optional Article 6.5). In the event of authorization, the operator is obliged to take all necessary measures to obtain the approval of the Government of the dismantling work programme and the budget. While the UUOA NAO estimated in 2006 that the various contracting groups had conducted exploration and assessment activities prior to unification, the UUOAPN IS now planning exploration and assessment activities under the UUOA in 2020. The 2020 AIPN-UUOA also offers the possibility to extend the application of the UUOA to the downstream delivery point under group contracts, to cover the scenario in which groups participate together in a downstream project. Lauren Kelsall advises clients on energy transactions and projects in the upstream, midstream and descendant segments of the oil and gas industry as well as in the energy sector. Lauren has particular experience working on transactions in Africa and emerging markets for a number of international energy companies and state-owned enterprises.
She advises on acquisitions and divestiture, joint ventures and general corporate and commercial matters. First, the 2012 JOA aims to clarify and improve the existing provisions of the 2002 JOA. In the 2012 JOA, defined terms are widely used that reflect current industry practice and, unlike the 2002 JOA, frequently used words and phrases are now defined in Article 1 of the 2012 JOA. . .