How to negotiate and structure a joint development agreement

The end of June 2003 witnessed public "roadshows" in London and Houston for the inaugural licensing round of the 35,000 sq km Nigeria-Sao Tome e Principe (STP) Joint Development Zone.In recent times, joint development zones (JDZs) have become more prevalent than ever. In many cases, governments see them as the best way to deal with boundary disputes with their neighbors, in situations where there is a desire to reap the benefits of resources located within a disputed area, particularly oil and gas.The negotiation of new joint development agreements is almost inevitable, not least because a large number of international maritime boundaries have yet to be fixed. Indeed, it was also announce...

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