The New Oil Order of Iran and Its Impact on Designing Upstream Contracts in Oil Industry

Document Type : Research Paper

Authors

1 Assistant Professor in international trade law department, Shahid Beheshti University, Tehran, Iran

2 PhD student in international trade law department, Shahid Beheshti University, Tehran, Iran.

Abstract

Even though the Buy-back contracts is introduced as sole method for performing upstream Oil projects, by virtue of laws such as budget and development program laws, after Islamic revolution of Iran, new regulations were passed in recent decades that indicated on formation of new legal order in petroleum industry. The Sprout of Iran's new oil and gas order, initially formed by a change in attitudes towards foreign investment, grew up by changing the scope of private sector intervention in the economy and developed by introducing and prescribing various oil contracts. On the other hand in the event of this developments, petroleum ministry unveiled a new model of contract named Iran Petroleum Contract (IPC). Although IPC is based on the principles of Iran's new oil order, it seems that it has not used all the capacities articulated in this order. Explaining the fundamentals and content of this order, the ratio of the new contract to these developments and eventually the ability to apply other contractual patterns will be discussed in this article.
 

Keywords

Main Subjects

References

 
Ebrahimi seyed nasrollah, sadeqi moqadam, mohammad Hassan seraj, narges . The Criticisms made by the Iranian Oil and Gas Industry about the interconnected contracts and its responses.  Journal of Faculty of Law and Political Science 2012; 42 (4): 1-19.
Asqarian mojtaba. International Oil Service Contracts in the Upstream Sectior and their ability to comply with Iranian law.  Ph.D. Thesis in international law, Shahid Beheshti University 2016.
 
Iranpour farhad. Basic Principles of Oil Contracts. Journal of Faculty of Law and Political Science 2007; 37 (3): 1-28.
 
Emani maqsud, derakhshan masoud. Session "from Darcy to IPC"2015.
http://icmstudy.ir/tag
 
Hatami ali, karimian esmaeel. Foreign Investment Rights in the Light of Law and Investment Contracts.  Tisa Publication 2014 .
 
Derakhshan mosoud. Oil Contracts from the Perspective of Protective Production and Enhanced Recovery: Resilient Economy approach, Journal of Islamic Studies 2014; 2: 7-52
 
Qavam abadi ramezani, saraf mohammad hossein, simaii saraf hossein. From Ownership to Sovereignty: Comparative study of the Environment in Islamic law and Jurisprudence
Journal of Civil Rights 2014; 1: 1-12
 
Zare sheibani davoud. The concept of investing in international investment law. Master's Degree in International Trade Law. Master's Thesis in International Trade Law, shahid beheshti university 2012.
 
Shiravi abodolhossein. Oil and Gas law, mizan publication,tehran 2014.
 
Movahed mohammad ali. Oil Contracts after a twenty-year pause. Journal of Energy Economics 1997; 2,3: 79-87.
 
Mousavi seyed Hassan. Legal analysis of the service model in the upstream sector  in Iranian oil and gas industry (with Emphasizing the analysis of a new contract template: IPC.  Ph.D. Thesis in private  law. Shahid Beheshti University 2016.
 
Nikbakht hamidreza, mohammad arian. Designing new contractual templates for the development of Iran's hydrocarbon fields: Review and critique of the new oil ministry law, Journal of Legal Research 2015; 71: 75-120
 
 
Nikhbakht hamidreza, seyed Hassan mousavi. Principles and structure of the new model of Iranian oil contracts. Journal of Legal Research 2015; 72: 35-69
 
A. Shiroui Khouzani and S.N.Ebrahimi,(2003) The Contractual Form of Iran’s Buy-back Contracts in Comparison with Production Sharing and Service Contract, Society of Petroleum Engineers.
 
 
Alshiatii(1987), "Protection of Investment in La Haye", p 32 et s .
 
Atwell, J. E., (1980) "Changing Relationships Between Host Countries and International Petroleum Companies", Houston Law Review, Vol. 17.
 
Bernard Taverne(1996) Petroleum, Upstream Oil and Gaz Agreement, Production sharing contract, Sweet and Maxwell.
 
 
Bindemann, Kirsten,(1999)"Production Sharing Agreements: An Economic Analysis", Oxford Institute For Energy Studies.
Blinn K. W., C. Duval, H. L. Leuch & A. Pertuzio, International Petroleum Exploration and Exploitation Agreements: Legal, Economic and Policy Aspects, Borrows Publications, 1986, Uptated and Expanded in 2009.
 
 
Bunter. Michael A. G., "The Iranian Buy Back Agreements", P. 11 at www.geoconsuiting.co.uk.
 
Fight Andrew,(2006) Introduction to Project Finance, Butterworth-Heinemann publication.
 
Machmud Tengku Nathan,(2000) The Indonesian Production Sharing Contract: An Investor Perspective, Kluwer Law International.
 
M. Sornarajah,(2009) “Portfolio Investment and the Definition of Investment”, ICSID REVIEW – Foreign Investment Law Journal, 24(2)
 
 
Robert Fabrikant(1975), Production Sharing Contracts in the Indonesian Petroleun Industry, Harvard International Law Journal, Vol. 16.
 
 
Shiravi Abdolhossein and Amin Majd Fatameh,(2015) Foreign investment in Iran’s upstream oil and gas operations: a legal perspective, Journal of World Energy Law and BusinessVol. 8, No. 3.
 
Shiravi Abdolhossein and Ebrahimi Seyed Nasrollah,( 2006), Exploration and development of Iran’s oilfields through buyback, Natural Resources Forum,30.
 
 
 
 
 

Files

Share

How to cite

Statistics