Tag: IPC

  • “Petroleum Costs” in Iranian Petroleum Contract (IPC)

    “Petroleum Costs” in Iranian Petroleum Contract (IPC)

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    In examining the evolution of upstream petroleum contracts, the fiscal regime is one of the main distinguishing features among different contractual frameworks.Across all contractual models used in Iran to date—from early concession agreements, to pre-revolution production sharing contracts, and later to various forms of service contracts adopted after the revolution (beginning with the first generation…

  • “adverse selection” in field development contracts

    “adverse selection” in field development contracts

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    Is Iran’s oil industry facing “adverse selection” in field development contracts? To begin, it is useful to briefly review the concept of adverse selection in economic enterprises, so that we can later explore its dimensions within the National Iranian Oil Company (NIOC).  – In contracts theory, the concept of information asymmetry means that one party…

  • A Look at the New Amendment to “The General Conditions, Structure and Model of Upstream Contracts”– IPC

    A Look at the New Amendment to “The General Conditions, Structure and Model of Upstream Contracts”– IPC

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    Silence as Consent? (A Commentary on the Critics of the IPC Model) Oil and gas contracts have always attracted public sensitivity and scrutiny. Several years ago, during the transition from buy-back contracts to the new Iran Petroleum Contract (IPC) framework, significant debate arose across political and technical circles. After the Cabinet issued the decree titled…