Taming Troubled Waters: Joint Development of Oil and Mineral Resources in Overlapping Claim Areas

This Article examines the issues surrounding the joint development of resources in overlapping claim areas. The author reviews the precedents for joint development of offshore areas and seeks to define the elements that frequently appear in these precedents, namely the extent of the area, the contract type, the financial arrangements, the process of selection of concessionaires or operators, the length of the agreement, and the nature and functions of the joint management body. The author also examines the joint development efforts of various countries which share common claimed resources. The author argues that the success of joint development agreements depends on the given knowledge of actual deposits, good political relations, practical mindedness, and cooperative private companies.