On 16 February 2023, the Association of International Energy Negotiators (“AIEN”, formerly the Association of International Petroleum Negotiators or AIPN) published an updated version of its model form joint operating agreement (the “JOA”). The AIEN JOA has for many years been adopted as the standard agreement used across the oil and gas industry for unincorporated joint ventures, notwithstanding that there are alternative regional model forms that are popular in some jurisdictions.
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