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Joint Operating Agreements: A Practical Guide 5th ed

Peter Roberts, Reg Fowler

ISBN13: 9781837231430

Previous Edition ISBN: 9781787422629

To be Published: October 2026

Publisher: Globe Law and Business

Country of Publication: UK

Format: Hardback

Price: £275.00

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This fifth edition of the leading work on joint operating agreements (JOAs) provides a practical examination of the provisions of a typical JOA, with a particular focus on the critical issues of scope, the operator’s role, joint and exclusive operations, default, transfers and decommissioning. There is also practical analysis of the key issues which apply to the operation of any JOA and the positions which are taken in the leading industry model form contracts. The perspectives of the operator and non-operator are addressed, along with consideration of the domestic and international standards applicable to petroleum projects and a comparison of JOA terms between production sharing and licence concession regimes.

New features include:

specific new chapters on withdrawal from the JOA and the role of competition law
increased focus on matters relating to pre-emption, change in control and state participation
consideration of recent model form JOA developments (including a new issue of the AIEN JOA and the AIEN accounting procedure) and evolutions in the various professional bodies (such as AMPLA, CAPL and OGUK)
analysis of the application of new legislation (such the Energy Act 2023 and the Arbitration Act 2025). and
analysis of key recent case law on default clauses and forfeiture, the management of disputes, and conditions for force majeure relief

Anyone engaged in the development of worldwide exploration and production projects will find Joint Operating Agreements: A Practical Guide, Fifth Edition an essential addition to their professional library.

Subjects:: Energy and Natural Resources Law

Contents:: Introduction; Glossary; 1. First principles of the JOA; 1.1 The logic for a joint venture; 1.2 The role of the JOA; 1.3 The JOA and multiple interests; 1.4 The JOA and other activities; 1.5 The incorporated joint venture; 1.6 Hybrid project structures; 1.7 Partnership contrasted; 1.8 Pre-JOA agreements; 1.9 Model form contracts; 1.10 JOA evolution and economics; 2. Concession forms and the JOA relationship; 2.1 The concession; 2.2 Applicable terms; 2.3 Reconciling the concession and the JOA; 3. Parties, participating interests, carries and collateral support; 3.1 Defining the parties; 3.2 Concession and JOA party symmetry; 3.3 Affiliate interests; 3.4 Participating interests; 3.5 Carried interests; 3.6 Collateral support; 3.7 Joint property; 4. State participation; 4.1 State participation in the concession and the JOA; 4.2 Later state participation; 4.3 Carried interests; 4.4 Management of the JOA; 5. Duration; 5.1 Pre-JOA arrangements; 5.2 Commencement; 5.3 Term; 5.4 Termination and surrender; 5.5 Surviving provisions; 6. Scope; 6.1 Joint operations; 6.2 Excluded activities; 6.3 Expanding the scope; 6.4 Definition of the scope; 7. The operator; 7.1 The operator’s advantage; 7.2 Selection of the operator; 7.3 The role of the operator; 7.4 The locus of the operator; 7.5 Resignation and removal; 7.6 Hybrid operator structures; 7.7 The operator’s perspectives; 7.8 Fiduciary duties and relational contracts; 8. The non-operating parties; 8.1 The role of the operating committee; 8.2 Operating committee mechanics; 8.3 Subcommittees; 8.4 Voting control; 8.5 The non-operating parties’ perspective; 9. The accounting procedure; 9.1 Model form accounting procedures; 9.2 Accounting principles; 9.3 The contents of the accounting procedure; 9.4 Accounting procedure issues; 10. Economic management; 10.1 The need for economic management; 10.2 Work programmes and budgets; 10.3 Authority for expenditure; 10.4 Invoice requests, cash calls and operator financing; 10.5 Payment obligations; 10.6 Dealing with default; 11. Contracting; 11.1 Procurement options; 11.2 Third party contracts; 11.3 Affiliate contracts; 11.4 Federal contracts; 11.5 Contributions in kind; 11.6 Contract awards and management; 12. Petroleum management and disposal; 12.1 The principles of petroleum allocation and lifting; 12.2 Petroleum allocation; 12.3 Petroleum lifting; 12.4 Petroleum attribution; 12.5 Petroleum disposal; 12.6 The state’s involvement; 12.7 PSC allocation; 13. Exclusive operations; 13.1 Understanding exclusive operations; 13.2 Exclusive operations mechanics; 13.3 Buyback rights; 13.4 Excluding exclusive operations; 14. Transfers and changes in control; 14.1 Transfers under applicable law; 14.2 Transfer mechanics in the JOA; 14.3 Incomplete transfers; 14.4 Affiliate transfers; 14.5 Pre-emption rights; 14.6 Change in control; 15. Withdrawal; 15.1 The principle of withdrawal; 15.2 The use of the withdrawal mechanism; 15.3 Partial withdrawal; 16. Information, confidentiality and intellectual property; 16.1 The nature of information; 16.2 Confidential information; 16.3 Utilising confidential information; 16.4 The concession and state interests; 16.5 Public announcements; 16.6 Liability for breach; 16.7 Technology information and intellectual property rights; 16.8 The operator as custodian; 17. Competition law; 17.1 The application of competition law; 17.2 The JOA and competition law; 17.3 Relevant JOA provisions; 17.4 Competition law and information exchange; 18. Decommissioning; 18.1 The decommissioning phase; 18.2 The regulatory regime for decommissioning; 18.3 Collateral support for decommissioning costs; 18.4 Decommissioning and the JOA; 18.5 Decommissioning on the UK Continental Shelf; 19. Liabilities; 19.1 Liabilities under the concession; 19.2 The operator’s liability; 19.3 Party to party liabilities; 19.4 Liability for exclusive operations; 19.5 Third party liabilities; 19.6 Liabilities and insurance; 19.7 General liability; 20. Default; 20.1 The consequence of default; 20.2 The definition of default; 20.3 The reaction to default; 20.4 The remedies for default; 20.5 Mortgage and lien protection; 20.6 Interest sales; 20.7 Forfeiture; 21. Force majeure; 21.1 The meaning of force majeure; 21.2 Force majeure relief; 21.3 Economic sanctions and force majeure; 22. Dispute resolution; 22.1 Dispute resolution principles; 22.2 Dialogue; 22.3 Expert determination; 22.4 Arbitration; 22.5 Litigation; 22.6 Arbitration or litigation?; 22.7 Consolidation; 22.8 Confidentiality; 22.9 Jurisdiction; 22.10 Sovereign immunity; 22.11 Investment treaty protection; 22.12 Due observance; 23. Other provisions; 23.1 Compliance standards; 23.2 Entire agreement and amendment; 23.3 Governing law; 23.4 Health, safety and the environment; 23.5 Indexation; 23.6 Insurance; 23.7 Litigation management; 23.8 Notices; 23.9 Secondment and teams; 23.10 Taxation; 23.11 Third party involvement; 23.12 Warranties and representations; Appendix 1: Farm-outs and the JOA; Appendix 2: Unconventional petroleum JOAs; Appendix 3: Unitisation and the JOA; About the authors; Index