Description:

This second edition of the model 'International Unitization and Unit Operating agreement' provides an updated template for unitizing two blocks under two separate contracts from the same host government. It provides options and alternatives for the most commonly encountered issues and incorporates experience from many unitizations around the world and knowledge gained from the use in practice of the original 2006 model form. This Model Contract set includes:

Unitization Agreement
Unitization Agreement - Exhibit A - Group Interests, Unit Interests and Tract Participations
Unitization Agreement - Exhibit B - Definition of Unit Area and Unit Interval
Unitization Agreement - Exhibit C - International Unit Accounting Procedure
Unitization Agreement - Exhibit D - Decommissioning Procedures
Unitization Agreement - Exhibit E - Redetermination Procedures
Unitization Agreement - Exhibit F - Redetermination Technical Procedures
Unitization Agreement - Exhibit R - Exclusive Operations Procedures
Unitization Agreement - Guidance Notes
Pre-Unitization Agreement