Arbitration clauses are a staple in international energy contracts and oil and gas cases are the largest category of cases filed with ICSID, the World Bank’s arbitration division (26 percent of recent cases filed, 39 percent counting other energy cases). Likewise, oil and gas cases frequently come before panels of all major international arbitration institutions. Yet the oil and gas industry too often avoids arbitration. Two widely used oil and gas form contracts—the AAPL Joint Operating Agreement and the Producers 88 oil and gas lease—almost never mention arbitration.
This article looks at why lessees, lessors, equity investors, operators, and other oilfield parties should consider wider use of arbitration.
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