Ocean and Polar Research

Korea Institute of Ocean Science & Technology (한국해양과학기술원)
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International Legal Regime on Transboundary Natural Resources: Focus on Transboundary Oil and Gas Deposits on the Continental Shelves

국제법상 월경자원의 처리에 관한 고찰 -해저석유 및 가스자원을 중심으로-

  • Lee, Yong-Hee (Division of Law, College of International Studies Korea Maritime University)
  • 이용희 (한국해양대학교 국제대학 법학부)
  • Published : 2007.06.30
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Abstract

Exploitation of transboundary oil and gas on continental shelves may cause conflicts between or among States concerned due to the physical character of these resources. As oil and gas are fluid, exploitation of such a transboundary oil field by one side may affect other parties in other jurisdictions. However, there is no universal international legal regime on the issue. This article tries to find the international legal regime governing such resources through analysing UN Assembly's resolutions, UNCLOS, international judicial opinions, bilateral agreements and ILC activities relating to transboundary natural resources. As a result of this study, it seems that each coastal State has an inherent sovereign right on its part of the transboundary oil and gas deposit, but this right is not unlimited. Each state involved with the deposit has a duty to cooperate with other states-through information exchange, consultation, and negotiation. Furthermore, the state has an obligation to refrain from unilateral action when there is a possibility of causing irrevocable damage to the interests of the other states.

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