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.

About the Speaker:

Paul Deemer is a Retired Partner in Residence at Vinson & Elkins law firm. Paul practiced with V&E for more than 40 years, most recently in the Energy Transactions and Projects area in the firm’s London Office, before retiring from the partnership at the end of 2018.

His experience includes international mergers and acquisitions, and the development and financing of international energy projects. He has worked extensively on international oil and gas projects, including the acquisition and disposal of oil and gas assets (and companies owning those assets), cross-border oil and gas pipeline projects, and LNG and electric power projects in Europe, Asia, the FSU, and the Middle East. He has also worked on renewable energy projects, including wind, hydroelectric, geothermal and other renewable energy sources. Paul has worked on projects in China since the early 1990s, and has broad experience with Chinese oil, natural gas, and electricity projects. He has represented major international clients, including multilateral lenders, in the development and financing of energy projects in China, Russia, and other countries.

Paul was based in China from 1997 to 1999, and from 2002 to 2013, and in Vinson & Elkins’ London, Moscow and Singapore offices for 18 years prior to that.  He is an Adjunct Professor of Law at Vanderbilt University Law School in Nashville, USA, and a Visiting Professor at the Centre for Commercial Law Studies at Queen Mary University of London.  Paul is currently teaching a course in Project Finance and Infrastructure Law at the Chinese University of Hong Kong.