Unitisation Agreement In Oil And Gas

This is because the parties will learn more about the reservoir through geological and geo-reservoir studies carried out when the unification agreement is concluded, and then as soon as one or more new provisions are implemented (see below). However, standardization itself and documentation of standardization in the form of a unification agreement require careful consideration and consideration by all parties, given the difficulty and potentially controversial nature of the subject matter in question. To combat this situation, the concept of standardization was developed in the United States and then adopted by CICs in a number of other jurisdictions, including the United Kingdom. Today there are more than twenty bilateral unification agreements and joint development agreements (DDAJ) between governments that share an international (normally maritime) border. These unification treaties and ADIs [2] create a framework for the development of an oil or gas reservoir that exceeds the limit of the two States Parties (or JDAs), i.e. cross-border standardization. Under these treaties and the ADIs, a number of unification agreements have been concluded, including agreements concerning the Frigg field and the Stratjford field, which cross the border between Norway and the United Kingdom in the North Sea, as well as the bayu-undan field within the common oil development area established by the Australian and Indonesian governments in Lake Timorese. . . .

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