November 2003The Contract Well Operating Agreement Task Force has now completed its rewrite of the model agreement.
The new version of the model agreement is now available from the PJVA office and can be ordered on-line.
The PJVA thanks the members of the task force led by Jim Taylor of CNRL for their efforts at finalizing this document.
- The new model is similar in many ways to the original model except that:
- It moves a number of the responsibility specifics to the exhibits from the body of the agreement which is more in line with other model agreements
- Liability, force majeure and notices clauses have been substantially rewritten
- The insurance exhibit has been expanded
- The formatting of the entire document has been revised to be more in line with other model agreements