Tag: Petrollex

  • Quantitative Terms in Gas Sale Agreements (GSA/GSPA)

    Quantitative Terms in Gas Sale Agreements (GSA/GSPA)

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    Gas Sale Agreements (GSAs) are among the clearest contractual arrangements in which the concept of quid pro quo is manifested in its true sense.Naturally, every sale-and-purchase agreement involves two parties — the buyer and the seller — and quid pro quo means that for every clause securing the buyer’s interests, there is a corresponding clause…

  • Guideline for Selecting Public–Private Partnership Models 2023

    Guideline for Selecting Public–Private Partnership Models 2023

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    As we know, there are numerous contractual models for Public–Private Partnerships (PPP). In 2023, the Technical and Executive System for Consultants and Contractors of the Plan and Budget Organization published Bulletin No. 874 titled “Guideline for Selecting Public–Private Partnership Models.” The absence of such a document had long been felt. In this guideline, various PPP…

  • Hydraulic Fracturing, Acid Fracturing, and Acidizing

    Hydraulic Fracturing, Acid Fracturing, and Acidizing

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    Three Different Well-Stimulation Operations — in Non-Technical Language These three methods are commonly used to stimulate oil wells and enhance hydrocarbon recovery.Hydraulic fracturing is mainly applied in sandstone reservoirs and shale gas formations to increase permeability and improve production. In contrast, acid fracturing is performed in carbonate reservoirs. Hydraulic FracturingIn hydraulic fracturing, high-pressure pumps inject large volumes…

  • Moving Toward a “Unit Rate” Fiscal Regime in Oil and Gas Project

    Moving Toward a “Unit Rate” Fiscal Regime in Oil and Gas Project

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    Moving Toward a “ Rate” Fiscal Regime in Oil and Gas Project Project Fiscal Strategies are generally categorized into three contractual frameworks:  🔹 Lump Sum 🔹  Cost-Plus  🔹  Rate (Schedule of Rates) The  Rate (Schedule of Rates) model can be effectively applied in projects where a defined set of repetitive and quantifiable tasks occurs frequently.…

  • 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…

  • Components and Processes of a Petroleum System

    Components and Processes of a Petroleum System

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    (A Non-Technical Summary) A petroleum system* refers to an active source rock and the accumulation of hydrocarbons that are chemically linked to that source rock. A petroleum system consists of the geological *elements and processes that control the formation, migration, accumulation, and preservation of hydrocarbons. Key Elements of a Petroleum System Source Rock The source…

  • Build-Own-Operate or Build-Operate-Own?

    Build-Own-Operate or Build-Operate-Own?

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    BOO Contracts and Examination of a Conflict in Related Laws and Regulations BOO contracts are one of the models of Public–Private Partnerships (PPP), encompassing three concepts: Build, Own, and Operate. The most important and distinctive stage in this type of contract is the ownership stage, whereby the investor becomes the owner of the project and…

  • Local Content Policies” – A Double-Edged Sword!

    Local Content Policies” – A Double-Edged Sword!

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    One of the constant concerns of policymakers and statesmen, particularly in oil and gas exporting countries, is the maximization of the economic benefits derived from oil and gas extraction. In response to such concerns, the concept of Local Content first emerged in the North Sea oil sector in the 1970s. Today, this concept serves as…

  • The Difference Between Cost Stop and Excess Oil in Production Sharing Agreements [PSA/PSC]

    The Difference Between Cost Stop and Excess Oil in Production Sharing Agreements [PSA/PSC]

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    These types of contracts, alongside concession, service, and hybrid agreements, are among the main upstream contractual models commonly used in the oil industry. The original idea was first introduced in Bolivia in the 1950s, but the modern form was developed in Indonesia in the 1960s. In PSC contracts, the capital and operating expenditures incurred by…

  • Natural Gas Storage

    Natural Gas Storage

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    🔹According to 2021 statistics, there are about 693 active natural gas storage reservoirs worldwide, of which Iran owns two — Serajeh and Shourijeh. Gas storage, aimed at energy security and compensating for gas supply–demand imbalances, is a key concern for both gas-producing and gas-consuming countries. 🔹 The legislator, in the Seventh Development Plan, has stipulated…