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Who Owns the Oil? The How and Why of Unitization

Unitization began to avoid wasteful and inefficient practices such as the rule of capture and allow more efficient production of resources. The unitization process has evolved over the years and is now well established throughout the world with many countries having legislation for unitization. Although there are generic agreements, each unitization agreement is unique and requires a wide range of issues to be considered. Unitization is a truly multi-disciplinary activity, involving subsurface professionals, economists, legal and management. This presentation will be suitable for all disciplines involved.