Sharing is Caring: Transboundary Hydrocarbon Deposits on the Continental Shelf

Abstract

Abstract: The sovereign and exclusive rights of States to explore the continental shelf and exploit its resources implies an unfettered right to exclude any exploitation by a third State of hydrocarbons that are located on its continental shelf. Yet, these rights do not allow impairment to the sovereign and exclusive rights of third States to exploit resources that extend onto their continental shelves. State practice demonstrates multiple definitions of hydrocarbon deposits implying that the decision of whether a hydrocarbon deposit is transboundary may vary depending on the relevant treaty provision. State practice also indicates heterogeneous procedural and substantive approaches to the commencement of transboundary hydrocarbon deposits exploitation. These differences have substantive implications relevant to the determination of the constitutive elements of transboundary hydrocarbon deposits and for the circumstances under which a transboundary hydrocarbon deposit can operate under customary international law.