Joint operating agreements—operator and non-operating party perspectives
Published by a LexisNexis Energy expert
Practice notesJoint operating agreements—operator and non-operating party perspectives
Published by a LexisNexis Energy expert
Practice notes
The principal forum for the battle of wills between the operator and the non-operating parties is the operating committee (OpCom) (at least where a joint operating agreement (JOA) includes the concept of an OpCom—not all do).
This Practice Note presumes that one of the parties to the concession and the JOA has been appointed to act as the operator (rather than that a contracted third party operator has been appointed, although the principles in this paper apply equally in respect of an incorporated operator entity) and that the JOA makes provision for the constitution of an operating committee (OpCom) to represent the interests of the non-operating parties.
For more information on joint operating agreements generally, see Practice note: The purpose and the principles of the joint operating agreement.
The operator's perspective
At the highest level, the role of the operator is to exercise its rights and to perform its obligations under the JOA so as to manage the performance of the joint operations on behalf of all parties, and in doing so to ensure compliance with
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Jurisdiction(s):
United Kingdom
Key definition:
Agreement definition
What does Agreement mean?
Agreement is broadly defined under EU and UK competition law so as to include activities ranging from a legally enforceable contract between two or more parties to an informal albeit clear understanding, whether entered into in writing or verbally.
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