This thesis examines the joint venture relationship in the context of the exploration phase of the development of an oil and gas field in Great Britain and Australia. It considers a number of issues relating to the relationship between the Participants of a typical Joint Operating Agreement within the legal regimes of Great Britain and Australia. Against this background the main issues addressed in this thesis are- 1. the nature of the joint venture?; 2. the relationship between the Participants inter se; and 3. the relationship between the Operator and the Participants. In addressing these issues the following questions are addressed: - (i) what is a joint venture?; (ii) is a joint venture a separate legal relationship?; (iii) how is a joint venture distinguished from a partnership?; (iv) what is the relationship between the participants inter se?; (v) what rights does a participant of a joint venture have in relation to the joint venture and the other participants of a joint venture?; (vi) what interest, contractural or proprietary, does a participant of a joint venture have in the joint venture and the property thereof?; vii) what duties does a participant of a joint venture have to the joint venture and the other participants of the joint venture?; and (viii) what is the legal position when a participant of a joint venture defaults in complying with its duties?
|Date of Award||1990|
|Supervisor||Richard W. Bentham (Supervisor)|
- Joint operating agreements
- Offshore oil industry
- Great Britain