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Model Agreements

What is a Model Agreement?

It is an agreement between two or more oil and gas companies for the purpose of development and production of oil and gas properties. The agreement defines the property, most commonly a "production facility", the relationship between the parties and the responsibilities assigned to the parties.

Typically, a Petroleum Joint Venture does not include joint exploration activities, nor does it include marketing activities.

Descriptions of Reports and Agreements

Model CO&O Agreement — Industry Draft 2 Available for Comment

PJVA presents Draft #2 of the Model CO&O for membership review and comment. Draft #2 has incorporated changes arising from comments on Draft #1.

As our Model Agreements are one of our key pillars, PJVA is seeking membership feedback on this latest draft to ensure the following:

  1. This model addresses current industry needs; and
  2. This model would be an acceptable and most importantly adopted model for use by industry.

We need your support and feedback to ensure we are providing an improved and adoptable new Model CO&O Agreement.

The Draft #2 CO&O Head Document, Operating Procedure, and Appendices with annotations, and prior comments provided by industry can be accessed here:

  1. Task Force Report - Part 1 Overview
  2. Task Force Report - Part 2.1 Annotated Head Document
  3. Task Force Report - Part 2.2 Annotated Operating Procedure
  4. Task Force Report - Part 2.3 Annotated Appendices
  5. Task Force Report - Part 3 Blackline Draft 1 to Draft 2
  6. Task Force Report - Part 4 Response to Reviewer Comments Draft 1 (Legal Size)

We ask that you review the documents and submit any comments or suggestions by May 15, 2021 using the comment template below:

CO&O Draft 2 - Comment Template

Thank you for taking the time to invest in the future of Joint Venture business, and as always, for your support of the PJVA!


At the beginning of each calendar year the PJVA Standing Committee will take any Errata's for the year past and incorporate them into a new version of the PJVA Agreements.

As members bring items or concerns to the PJVA Standing Committee they are discussed and if agreed we put the item or concern on the Errata page for other members to view.

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