Tag: Petrollex

  • Inconsistencies between Iranian Laws and the Energy Charter Treaty

    Inconsistencies between Iranian Laws and the Energy Charter Treaty

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    Inconsistencies between Iranian Laws and the Energy Charter Treaty are mentioned below: 🔹️Article 11 of the Energy Charter Treaty (Entry of Employees of Foreign Investors) ➡️ Conflicts with Article 82 of the Constitution and Article 3 of the Law on the Maximum Utilization of Domestic Technical, Engineering, Industrial, and Executive Capabilities. 🔹️Article 5 of the…

  • Energy Charter Treaty (ECT)

    Energy Charter Treaty (ECT)

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    One of the few and most important multilateral international treaties in the field of Energy is the Energy Charter Treaty (ECT), which was proposed in 1990 by Ruud Lubbers, who was Prime Minister of Netherlands, based on the idea of fostering East–West cooperation in the energy sector.Today, the Treaty has 54 full members and 44…

  • Foreign Investment and the Calvo Clause

    Foreign Investment and the Calvo Clause

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    The reasons for foreign investment from the investor’s perspective can be categorized into three groups: 1. Capital accumulation and the lack of domestic need for the relevant capital in the investor’s home country 2. Disparity in the benefits of investment in the investor’s own country 3. Incentive policies and measures adopted by the host countryHowever,…

  • “UUOA” & “PUA” Agreements in Common Fields

    “UUOA” & “PUA” Agreements in Common Fields

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    There is no upstream document in the oil and gas industry that does not address the necessity of developing joint fields. It is evident that the reason for this entirely logical emphasis lies in the competition we face with neighboring countries in exploiting these resources.Unitization & Unit Operating Agreement (UUOA) contracts are a type of…

  • Green Field vs. Brown Field & Brown Reservoir vs. Green Reservoir in Iran’s Regulation.

    Green Field vs. Brown Field & Brown Reservoir vs. Green Reservoir in Iran’s Regulation.

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    Definitions from the Cabinet of Ministers Resolution on Upstream Petroleum Contracts Framework: 🔹Reservoir: Each of the anticlines, stratigraphic structures, or any type of structural trap containing hydrocarbons—or a combination thereof—with independent rock, fluid, and pressure characteristics. 🔹Discovered Field (Green Field): An oil or gas field discovered by the National Iranian Oil Company (NIOC) or by…