The AIPN Board of Directors is pleased to announce the publication of its 2020 Model International Unitization and Unit Operating Agreement (UUOA).
The 2020 Model is an update to AIPN’s 2006 Unitization and Unit Operating Agreement. The second edition provides an updated template for unitizing two blocks under two separate contracts from the same host government. It also 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.
The new UUOA set also features updated exhibits, including a revised International Unit Accounting Procedure along with a new, flexible Pre-Unitization Agreement.
The publication of the 2020 UUOA concludes a substantial industry-wide effort. Co-chairs David Asmus (Sidley Austin) and Andrew Derman (Thompson & Knight) and their drafting committee held numerous meetings over four years to prepare the 2020 revision. The drafting committee included broad industry participation comprising more than 200 representatives from around the world.
The 2020 Unitization and Unit Operating Agreement set is available for download free for AIPN members and $185 for non-members.