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Strategies for Dispute Resolution:Negotiating Joint Agreements

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Chapter Summary

In the modern world the demand for energy has led the petroleum industry to look offshore for hydrocarbon resources. This chapter considers why treaties creating joint areas are negotiated and reviews some of the common issues arising in the bilateral negotiations. The negotiation of maritime boundary agreements for energy-related purposes began with the Treaty between Venezuela and the UK regarding the Gulf of Paria in 1942. The Truman Proclamation and the entire development of the concept of the continental shelf represent responses to the need for energy in the second half of this century. An effective treaty providing for joint development may allow the industry to work and produce benefits for many years in an area which would otherwise have remained blighted by dispute over jurisdiction. An agreed boundary provides the best basis for setting the oil and gas industry to work.

Keywords: continental shelf; joint areas; jurisdiction; maritime boundary



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