Problems Relating to Arctic Farmout and Joint Operating Agreements
AbstractThe form and content of Farmout Agreements and Joint Operating Agree ments in use in the Canadian onshore oil and gas industry have become standardized to the point that the Canadian Association of Petroleum Landmen has published Model Operating Procedure. Farmout and Joint Operat ing* Agreements used in the Arctic require new concepts and different pro visions and procedures to deal with* the special problems caused by the de mands of the environment and the requirements of the Canada Oil and Gas Land Regulations. This article examines the special environmental and regulatory problems of the Arctic, reviews the provisions of standard form agreements and suggests changes necessary to deal with Arctic problems, and discusses provisions and procedures peculiar to Arctic Farmout and Joint Operating Agreements.
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