BB, I have always been of the opinion that the structure of any organization is best when it is fits the process. In this case, if this area is a huge pool of oil and it overlaps into other blocs, then it would be best to eliminate entities "friction" and to maximize efficiency by assembling a "process" partnership as described.
So yes, the theory is good and possible. I'd like to think that with something that is as huge as this would be and the time period that it would take to assemble, there would be some leaks of information, such as the richkans, oilphants etc. This may be confirming the suspicions.
Once again, thanks for your time and thoughts.
Opus X