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The joint operating agreement is a commercial contract extensively used in oil and gas joint ventures, where one co-venturer manages the venture under the supervision of the other co-venturers. The English courts have yet to pronounce whether a joint operating agreement (JOA) establishes a fiduciary relationship between its co-venturers and whether fiduciary duties are created by it. This book reviews whether a joint operation agreement, as an example of a joint venture, is a fiduciary relationship and fiduciary duties which may apply to resources companies as co-venturers. This book will be essential reading for anyone working in the area of energy and natural resources law as well as equity lawyers and anyone interested in joint ventures.
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Gerard Bean was a Visiting Commonwealth Fellow at the Law School, University of Warwick in England.
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