Paul Dymond concludes: “Standardization of agreements is an important part of the industry`s goal of simplifying operational and transaction procedures, as valuable legal resources can be focused on value-creating activities. The implementation of these agreements ensures more efficient working practices, which can help combat the effects of low credit availability on business and margins that are reduced by lower oil and gas prices. Oil and Gas UK will present today (16 February 2009) a series of model agreements to help companies enter into fast and efficient transactions, which is a valuable tool for the UK oil and gas industry to reduce costs and maintain competitiveness in the economic downturn. The documents will help simplify procedures and reduce costs in several sectors of oil and gas development, including asset transfer, access to infrastructure and construction of new pipelines. Model agreements are also available as a bundled package A second model agreement, the Joint Enterprise Agreement (JAA), provides a solid basis on which partner companies can manage joint operations on their licence, from the selection and obligations of the operator to the sharing of bonuses and commitments. This recent update of past versions now reflects current UKCS practice and is part of the Standard Decommissioning Security Agreement (DSA). This was once a decommissioning cost provision area (DCPD) and will be updated in light of the Energy Act 2008; it will soon be available on the Oil and Gas UK website at the same time as the other model agreements. You can purchase the following model agreements and accompanying documents individually by clicking on the following links: Two model agreements, also launched to simplify procedures and reduce costs for companies that build pipelines or carry out operations in close proximity to another party`s assets, are the updated Pipeline Crossing Agreement (PCA) and the new Proximity Agreement (AP). These documents complement the series of pilot agreements developed as a result of the PILOT Changing Gear initiative, which aims to promote an effective and timely conclusion agreement within the UKCS. To help companies make the most of these agreements, Oil and Gas UK will be organising a series of workshops on 22, 23, 25 and 29 June 2009 that can be booked on the Oil and Gas UK website. The first of the new model agreements, the Confidentiality Agreement (CA), will provide companies with a standard-logical solution to agree on confidentiality agreements when disclosing information, including the sale and transfer of assets and third-party access to infrastructure. New for 2013 The package is also 1.
Additional oil guidelines – Gas UK Standard JOA, March 2011 Long form Accounting Procedure: An alternative to JOA Schedule A, was developed in collaboration with OIFA.