Risk Allocation Provisions in Energy Industry Agreements: Are We Getting it Right?
Keywords:Energy Law, Petroleum Law
AbstractAfter reviewing a number of Canadian legal principles relating to indemnities, this article reviews risk allocation provisions used in certain segments of the oil and gas industry in Canada with a view to exploring the rationale behind the use of different risk allocation regimes and combinations thereof, and constraints to the enforceability of such provisions. The authors then discuss select issues that should be taken into account when reviewing, negotiating, and drafting these types of provisions.
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