Open AccessChapter 12: Model Form International Operating Agreement: A Practical Approach to Drafting Issues
Author(s) -
Paula Murphy
Publication year - 1996
Publication title -
alberta law review
Language(s) - English
Resource type - Journals
eISSN - 1925-8356
pISSN - 0002-4821
DOI - 10.29173/alr657
Subject(s) - inefficiency , negotiation , agreement , joint (building) , standard operating procedure , computer science , economics , business , law and economics , operations research , law , operations management , political science , engineering , microeconomics , architectural engineering , linguistics , philosophy
The Model Form International Operating Agreement has been written in response to inefficiency manifest in international oil and gas operating agreements. A collaborative effort of the Association of International Petroleum Negotiators and the American Corporate Counsel Association has produced the Model Form Joint Operating Agreement for the purpose of offering an agreement that can expedite negotiation time between oil and gas participants. The agreement encompasses the basic framework of standard operating agreements, but also provides standard alternative or optional provisions that can readily facilitate negotiations amongst participants working within the agreement framework. The author walks the reader through the Model Form Joint Operating Agreement, pointing out how the various provisions interact with each other and impact on operations.