Duties and Liabilities of the Operator under UK Oil and Gas Joint Operating Agreements: Is the Operator a Fiduciary?
Article from: OGEL Archive issue , in For the Practitioner
Summary
The purpose of this paper is to explore the relationship that arises between the parties to a JOA and to determine the Operating party's duties and obligations towards them. In particular it attempts to determine whether, due to its managerial and administrative duties imposed under the JOA, the Operator can be regarded as being in a fiduciary position in relation to the other parties. Thus the first section of this paper provides an exegesis of the nature and role of the JOA in the UK oil and gas industry. The following sections focus on the duties and liabilities of ...