In February 2023, the Association of International Energy Negotiators (“AIEN”) published the latest version of its Model International Joint Operating Agreement. Four years in the making, the 2023 JOA has been designed to update the 2012 Model International Joint Operating Agreement, which has been widely accepted and used as the standard form joint operating agreement in the international petroleum industry over the last decade, with developments in law, industry practice and key geopolitical events. This includes addressing the transformation in the industry’s approach to the threat of climate change.

Prof. Paul Deemer served as Co-Chair of the AIEN JOA Drafting Committee which revised the 2012 JOA to address the key areas identified by the AIEN membership: decommissioning, economic sanctions, anti-bribery and corruption, human rights, default, and provisions focusing on greenhouse gas emissions. The revision process coincided with key events that profoundly impacted the global community, notably the COVID-19 pandemic and the conflict in Ukraine. Mindful of the impact that these events and the challenges of climate change would have on the industry for years to come, the Drafting Committee sought to ensure the 2023 JOA is able to rise to these new global challenges.

Prof. Deemer will explain the function and importance of Joint Operating Agreements in the international energy industry, and he will discuss the rationale behind the changes to the AIEN JOA, the main differences from the previous version, and the implications for current and future projects.  This is a unique opportunity to learn from one of the leading experts in this area and to engage with him in a Q&A session.