Joint operating agreement JOA

{
  "id": "MLC-T-INS-001934",
  "term": "Joint operating agreement JOA",
  "field": "Insurance and risk management",
  "definition": "A contractual agreement between two or more parties that outlines their rights and obligations in the exploration, development, and production of a specific oil or gas property. It designates an operator responsible for day-to-day operations and specifies how costs and revenues will be shared among the non-operating partners. This agreement is standard practice in the upstream oil and gas industry.",
  "url": "https://mlchart.com/terminology/insurance/joint-operating-agreement-joa/"
}