Joint Operating Agreement (JOA) / Long form Accounting Procedure (Updated November 2020)
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Joint Operating Agreement (JOA) and Guidance Notes: updated in 2020 with the involvement the OGUK Operators Legal Committee – OGUK JOA Update Task Finish Group. The update included:
- addressing the treatment of environmental loss with respect to the Operator indemnity (Clause 6.2.4) and, for the sake of consistency, the inter-Participant indemnity (Clause 22.2.2);
- incorporating previous amendments of “Additional Guidance in Relation to the OGUK Standard JOA, March 2011” and “Amendments to Clause 22 of the Oil & Gas UK Industry Model Form Joint Operating Agreement to address the Bribery Act 2010, March 2013”.