JOINT DEVELOPMENT OF MARITIME RESOURCES: 

POSSIBILITIES AND CHALLENGES IN OFFSHORE ENERGY

Abstract

From time immemorial, territory and how to draw borders has been a major source of conflict among states as they evolved and acquired sovereignty. From the era of the Biblical chosen race by God-the Israelites, to the contemporary states we have today; zonal dominance has been of great importance to nations. Besides the concept of territory, natural resources play a significant role in boosting political, social and economic influences of nations. Energy resources, such as oil and gas are particularly useful to most countries for their overall growth and development. However, it remains a fact that there are still undiscovered energy and fishery resources which makes it difficult to overlook the political tension raging in disputed sea zones. The possibility of the depletion of these resources over the course of time attracts even more conflict. To this end, this work through the use of articles, books and journals examines the historical development of boundary disputes, maritime legal frameworks, the jurisdictional analysis of the agreement between Nigeria and Sao Tome & Principe; as well as the inevitable pros and cons of joint development as a longlasting solution to disputes on offshore resources. The article concludes with a set of recommendations to enhance joint

Keywords: Maritime, Resources, Offshore, Energy, Conflict, Joint Development