The Unified Economic Agreement (1981) provided that Member States should harmonize their policies in the field of oil industry, i.e. extraction, refining, marketing, processing, pricing, exploiting of natural gas and development of the energy resources, and that Member States should develop common oil policies and take common positions towards the other world countries and at the international and specialized organizations.

Article (9) of the Economic Agreement (2001) also provides as follows:

“For the purpose of achieving integration between Member States in the
fields of petroleum and minerals industry and other natural resources, and for enhancing competitive positions of Member States,
1. Member States shall adopt integrated policies in all phases of oil, gas and minerals industry to achieve optimal exploitation of natural resources, while taking into account environmental considerations and the interests of future generations.
2. Member States shall adopt unified policies for oil and gas and shall take common positions in this regard towards non-Member States and at the international and specialized organizations.
3. Member States and oil and gas companies working within them shall cooperate in supporting and developing research in the fields of oil, gas and natural resources and enhance cooperation with universities in these fields.”