Haynes Boone

This Practice Note provides an overview of the key terms of a farm-out (or farmout) agreement, a contractual arrangement in the oil and gas sector used to divest a participating interest under a production sharing agreement (or another host government agreement granting rights to hydrocarbons) in consideration for cash and/or completion of work program obligations.

This Practice Note provides an overview of the key terms under a joint study and bid agreement (JSBA), a contractual arrangement governing the relationship between multiple international oil companies (IOCs) wishing to jointly participate in a licensing round announced by a host state.