A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
THE USE OF UNITIZATION AND JOINT DEVELOPMENT AGREEMENTS IN PETROLEUM TRANSBOUNDARY DISPUTES
The paper discusses the framework used in developing cross border hydrocarbon resources. The role of states practices, legal regimes and international law requiring co-operation between two countries in developing migratory petroleum resources, either through the concept of cross border unitization for demarcated borders or its alternative the concept of joint development in dealing with overlapping claims. In the end, the ultimate objective for countries in co-operating is to maximize the recovery potentials and thus gain economic benefit for both countries. Petroleum development provides the financial resource from which a country predominantly depends to provide services for its citizens and therefore it is imperative for each petroleum rich state to develop the resource effectively.1 Energy security and reduced dependence on petroleum imports have over the years become the motivating factors for countries having cross-border petroleum deposits to co-operate and effectively develop in a manner that ultimately leads to financial benefit.
THE USE OF UNITIZATION AND JOINT DEVELOPMENT AGREEMENTS IN PETROLEUM TRANSBOUNDARY DISPUTES
The paper discusses the framework used in developing cross border hydrocarbon resources. The role of states practices, legal regimes and international law requiring co-operation between two countries in developing migratory petroleum resources, either through the concept of cross border unitization for demarcated borders or its alternative the concept of joint development in dealing with overlapping claims. In the end, the ultimate objective for countries in co-operating is to maximize the recovery potentials and thus gain economic benefit for both countries. Petroleum development provides the financial resource from which a country predominantly depends to provide services for its citizens and therefore it is imperative for each petroleum rich state to develop the resource effectively.1 Energy security and reduced dependence on petroleum imports have over the years become the motivating factors for countries having cross-border petroleum deposits to co-operate and effectively develop in a manner that ultimately leads to financial benefit.
THE USE OF UNITIZATION AND JOINT DEVELOPMENT AGREEMENTS IN PETROLEUM TRANSBOUNDARY DISPUTES
M. Hope, Mukalere (author) / Sanni, Tajudeen (author)
2018-06-30
Islamic University in Uganda Journal of Comparative Law; Vol. 5 No. 1 (2018); 109-118
Article (Journal)
Electronic Resource
English
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