Nigeria-Sao Tome and Principe Joint Development of Petroleum and Other Resources.

As one of the most comprehensive joint development agreements, the Treaty established a complex joint development regime with detailed dispute settlement procedures, thus enabling the two States Parties to pursue their economic interests in areas of overlapping claims. If the two States Parties agree, the Treaty shall be continued in force after the initial 45-year term (Treaty, Article 51.2). The Treaty establishes the joint development regime between the two States, which is composed of three parts: the Treaty itself, an Appendix entitled Special Regime Area (hereinafter "SRA"), and a Memorandum of Understanding (MOU). Also, the Treaty empowers the Authority to recommend to the Joint Ministerial Council at any time any changes in the applicable law or in the arrangements for its enforcement, to the extent that these may be necessary (Treaty, Article 44). [Extracted from the article]