STANDARDISATION OF AGREEMENTS

1. STANDARDISATION OF AGREEMENTS Transaction Developed & placed Agreements UKOOA website Project Facilitation Pipeline crossing agreement JOA Provisions Sole risk / assignment / pre-emption code of conduct Facility Action not appropriate Abandonment PP/33/01

2. Standardisation of Agreements Questionnaire to PPWG Members: 1. Are Companies using the standard agreements? 2. Do Companies want further standardisation & will they commit resources? Response - Generally positive: Majority do use standards. Lack of awareness or a precedent to refer to Use as a template and insert provisions as appropriate Further standardisation? Yes - but not standardisation for the sake of it Mixed opinion as to which agreements/clauses should be targeted Some commitment to give resources PP/33/01

3. Standardisation of Agreements • Recommendations: • PPWG should promote awareness of existing standard agreements and actively encourage all Operators to make use of them • PPWG should seek to determine / quantify whether there is significant value to be gained from further standardisation via a subgroup of PPWG company representatives (to be agreed) • The PPWG subgroup should progress targeted standardisation of commercial agreements and agreement provisions • The PPWG subgroup should be cognisant of the other areas that the PPWG is to develop and should tailor its efforts accordingly • The subgroup should work closely with UKOOA to ensure • maximum number of companies support standards developed PP/33/01