A third party that has agreed to cooperate with a company to advance their mutual interests.
A partnership may be based on a commercial agreement between two companies (such as a joint venture) or it may be based on sharing of inputs towards a non-financial societal or environmental objective.
Source: IOGP Report No. 510, Operating Management System Framework for controlling risk and delivering high performance in the oil and gas industry, International Association of Oil & Gas Producers, June 2014. Global Standards