This form creates an Area of Mutual Interest ( AMI ) comprising the Contract Area. During the term of this AMI, if any Party acquires all or any interest in any Oil and Gas Leases, any mineral interest, or any farmouts or other contracts which affect lands and minerals lying within the AMI, the Acquiring Party shall promptly advise each of the other Parties of the acquisition, at which time each Offeree shall have the right to acquire its proportionate interest in the Oil and Gas Interest.
Hawaii Area of Mutual Interest (AMI) refers to specific regions in Hawaii that have been identified as having potential for shared exploration and development of natural resources, primarily focused on offshore areas. Within the context of the oil and gas industry, an AMI is an agreement between companies or entities to jointly explore and exploit hydrocarbon reserves in a designated geographic area. One prominent type of Hawaii AMI is the Offshore AMI, which involves the exploration and production of oil and gas reserves located beneath the ocean floor surrounding the Hawaiian Islands. The aim of such agreements is to facilitate collaboration between oil and gas companies to maximize utilization and minimize conflicts in the development of these valuable resources. Additionally, the concept of Hawaii Onshore AMI can also exist, pertaining to the exploration and extraction of resources found on the land within a specific region of Hawaii. This can refer to traditional resources, such as minerals, timber, or agricultural products, or newer developments like geothermal energy, which harnesses the heat generated by the Earth's core. The establishment of an AMI often involves various stakeholders, including government bodies, regulatory authorities, indigenous communities, and interested participants from the private sector. These stakeholders work collaboratively to define the boundaries of the AMI, identify resource potential, outline environmental safeguards, and establish guidelines for exploration and development activities. Furthermore, AMIS may also encompass areas of mutual interest beyond natural resource exploration. For example, a Hawaii Tourism AMI could exist to foster collaborative marketing efforts, infrastructure development, and sustainable tourism practices across specific regions of Hawaii. In conclusion, the Hawaii Area of Mutual Interest (AMI) is a framework for collaboration and resource-sharing within designated regions of the Hawaiian Islands, allowing various stakeholders to jointly explore and develop natural resources like offshore hydrocarbon reserves or onshore minerals. These agreements facilitate coordination, minimize conflicts, and promote sustainable development practices in Hawaii.
