CIAO DATE: 03/2009
February 2009
Approximately 70 of the 156 States that have ratified the 1982 UN Convention on the Law of the Sea have potential Outer Continental Shelf Claims (OCS). Those claims could cover more than 15 million square kilometres of seabed. Under Article 82 of the Convention, a portion of the revenue from the extraction of non-living resources on the OCS must be disbursed 'on the basis of equitable sharing criteria, taking into account the interests and needs of developing States, particularly the least developed and the land-locked among them.' Article 82 is a unique and complex provision that does not address many of the specifics of how this is to be accomplished. The Energy, Environment and Development Programme at Chatham House is working with the body charged with applying Article 82, the International Seabed Authority, to explore in greater detail some of the critical issues of implementation while the Article is still dormant.
Resource link: A Fair Deal on Seabed Wealth: The Promise and Pitfalls of Article 82 on the Outer Continental Shelf [PDF] - 173K