U.S. - MEXICO agreement on Transboundary Hydrocarbon Reservoirs in the Gulf of Mexico, historical and legal analysis

Document Type : ISI

Authors

1 Associate Professor at Allameh Tabataba’i university

2 PhD candidate of management of International Oil and Gas Contracts at Allameh Tabataba’i university

Abstract

After decades of tough negotiations, U.S. and Mexico signed an agreement concerning Transboundary Hydrocarbon Reservoirs in the Gulf of Mexico on 12 Feb. 2012. Unitization is the approach that has been chosen by two countries to develop Gulf of Mexico's oil and gas transboundry resources. Due to legal, structural and historical similarities between Iranian and Mexican oil and gas industries, and existence of Iran's multiple transboundary hydrocarbon resources, assessment and analyzing of US-Mexico negotiations to know why they negotiated and how they could be able to handle their issues would be very helpful to Iran's oil and gas policy makers. Mutual understanding, providing enough time to talk and to do geological studies, enhancing historically faded confidence between two nations, avoidance of unilateral actions, long term approach and more importantly finding and generating common interests are the main success factors of two countries.

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References

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Journal Of Researches Energy Law Studies
Volume 2, Issue 1
Spring & Summer
April 2016
Pages 121-144

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