In the quest to understand the nature, structure, similarities, differences and outcome of the GMoU introduced by Multinational Corporations MNCs (International Oil Companies) (IOCs) in the Delta, this study had the objective of investigating the implementation of the GMoU by Chevron and Shell in communities where these corporations explore and exploit oil in the Delta region. The paper, using qualitative data, Stakeholder Theory, and Content Analysis as a method of data analysis, argued that whereas the GMoU is governed by the same ideology of developing the host communities, increasing the participation of community members in determining their own development and improving relations between the IOCs and their host, its implementation by Chevron and Shell including the governance structure and developmental outcomes differ. These differences notwithstanding, this study recommends, one hundred per cent implementation of the GMoU as the more the GMoU is implemented, the more the socio-economic life of individuals in these oil bearing communities improves.