During the first part of this phase, consultations identified nine areas of difficulty: costs for States Parties; the company; decision-making; the Review Conference; technology transfer; limitation of production; compensation fund; the financial terms of the contract; and environmental aspects. After considering the different approaches that could be followed in the consideration of these issues, a general consensus emerged on an approach that allowed participants to study all outstanding issues with a view to resolving them and to decide how to deal with issues that might not be resolved. After several years of discussions in response to growing concern over ocean degradation, a high-level diplomatic conference was convened by the United Nations in New York in 2018. The aim is to adopt an implementing agreement which, within the framework of the existing Convention on the Law of the Sea, will allow the development of future rules on the protection and sustainable use of biodiversity in marine areas outside national jurisdiction (BBNJ), i.e. rules applicable to the high seas. In the informal consultations of 28 and 29 January 1993, participants generally considered that a text on the basis of a more operational approach should be prepared in a form that could form the basis of an agreement. .