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.
Puerto Rico Area of Mutual Interest (PR AMI) refers to a designated geographical region that holds strategic importance for Puerto Rico and the United States. It is an area where both countries collaborate closely on various economic, political, and security aspects to promote mutual benefits and cooperation. PR AMI exists due to the unique political relationship between Puerto Rico and the United States as an unincorporated territory. The primary goal of PR AMI is to enhance Puerto Rico's development and strengthen its ties to the United States. It focuses on fostering economic growth, attracting investment, improving infrastructure, and promoting cultural exchanges within the designated area. PR AMI also aims to improve security cooperation, emergency management, and environmental protection to ensure the well-being of both Puerto Rico and the United States. Within Puerto Rico, there are different types of Areas of Mutual Interest, each serving various purposes and sectors. These areas are: 1. Economic Development Zones: PR AMI identifies specific zones within Puerto Rico where economic development and investment opportunities are prioritized. It aims to attract businesses, foreign direct investment, and encourage entrepreneurship within these zones. The focus is on creating employment opportunities, developing industries, and promoting trade. 2. Environmental and Ecological Zones: Puerto Rico holds rich biodiversity and unique ecological areas. Under PR AMI, various environmental and ecologically sensitive zones are identified for protection, conservation, and sustainable development. These zones aim to preserve Puerto Rico's natural heritage, promote eco-tourism, and ensure the ecological balance and resilience of the island. 3. Security and Defense Zones: PR AMI includes designated areas where security and defense cooperation between Puerto Rico and the United States are paramount. These zones focus on enhancing border security, preventing illicit activities, and ensuring the safety of both countries. The collaboration may involve joint training exercises, sharing intelligence, and coordinated response to potential threats. 4. Cultural Heritage Zones: Puerto Rico's rich cultural heritage is safeguarded and promoted through PR AMI. Specific areas are identified to preserve historical sites, traditional practices, and cultural artifacts. These zones often include museums, archaeological sites, and cultural centers, aiming to boost tourism, cultural exchange programs, and the preservation of Puerto Rico's diverse cultural legacy. Overall, Puerto Rico Area of Mutual Interest aims to create a platform for cooperation and collaboration between Puerto Rico and the United States. By identifying and addressing the unique needs of different sectors, PR AMI seeks to foster economic growth, protect the environment, enhance security, and preserve Puerto Rico's cultural treasures. Through this initiative, Puerto Rico can advance and prosper while maintaining its close ties with the United States.
