The Development of Iran’s Upstream Oil and Gas Industry: The Potential Role of New Concession Contracts, 1st Edition (Hardback) book cover

The Development of Iran’s Upstream Oil and Gas Industry

The Potential Role of New Concession Contracts, 1st Edition

By Mahmoud Fard Kardel

Routledge

200 pages

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Hardback: 9780367350871
pub: 2019-10-01
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Description

This book critically examines different forms of petroleum contracts, the historical perspective of oil and gas industry and the political economy of the petroleum development in Iran. In doing this, the author provides analysis of the concept of concession in oil and gas development. This is discussed through the main forms of concession contracts; namely, the Classic Concession Contract (CCC) and the New Concession Contract (NCC). The book ties together much of the existing work on the history of oil and gas regulation in Iran and builds on that foundation to propose a coherent and balanced approach within the framework of the NCC. To consider the role of the NCC in developing national upstream oil and gas industry, comparative examples are drawn from countries currently using, or having previously used, NCC oil and gas contracts. The selected developed and developing countries are Brazil, Thailand, the United Kingdom, Australia and Norway. The analysis considers the extent to which the NCC has served to advance the objectives and national interests of the national governments in this industry. This comparative exploration of the utilisation of NCCs in other jurisdictions and synthesises a framework through which Iran may develop its underutilised oil and gas resources. Of interest to academics, students and practitioners throughout the world, this book focuses on the relevant aspects of Iran’s Constitution and natural resource laws, and makes recommendations for law reform to Iran’s legal frameworks.

Table of Contents

 

Table of Contents

Abstract

List of Selected Acronyms

Key Definitions

Acknowledgements

Dedication

CHAPTER 1: INTRODUCTION

1.1 Classic Concession Contract

1.2 New Concession Contract

1.3 Need for Iran to Transition to NCC

1.4 Main Question

1.5 Background of Iran’s Oil and Gas Contracts

1.5.1 Pre-nationalisation Period (1901-1951)

1.5.2 Hybrid Period (1951-1979)

1.5.3 Contemporary Period (1979-2017)

1.6 Overview of Iran’s Oil and Gas Legal Development

1.7 Methodology

1.8 Book Structure

1.9 Conclusion

CHAPTER 2: HISTORY AND LEGAL FRAMEWORK OF IRAN’S OIL AND GAS CONTRACTS AND SECTORS OF OIL AND GAS INDUSTRY

2.1 Oil and Gas Industries of Iran

2.1.1 The Upstream Sector

2.1.2 The Downstream Sector

2.2 History and Legal Frameworks of Iran’s Oil and Gas

2.2.1 From exploration to nationalisation (1901-1951)

2.2.2 From Nationalisation to Revolution (1951-1979)

2.2.3 From 1979 Islamic Republic of Iran’s Revolution to the Present Day

2.3 Legal and Comparative Analysis

2.3.1 Ownership

2.3.2 Duration

2.3.2 Income

2.4 Conclusion:

CHAPTER 3: THE NATURE AND FEATURES OF CLASSIC AND NEW OIL AND GAS CONCESSION CONTRACTS

3.1 Definition of Concession Agreement

3.2 Classic Concession Contracts

3.2.1 Definition

3.2.2 The legal nature of oil concession contracts

3.2.3 Features

3.3 New Concession Contracts

3.3.1 Features

3.4 Distinguishing Between Classic Concession and the New Concession Contract

3.4.1 Party

3.4.2 Method of awarding

3.4.3 Area of concession

3.4.4 Duration

3.4.5 Ownership

3.4.6 Government revenue

3.4.7 Taxation

3.4.8 Participation

3.4.9 Control

3.4.10 Renegotiation

3.4.11 Settlement of Dispute

3.5 Conclusion

CHAPTER 4: NEW CONCESSION CONTRACT: NATIONAL FRAMEWORK

4.1 Brazil

4.1.1 Brazilian rounds: Granting of exploration and production rights

4.1.2 Main contractual terms

4.2 Thailand

4.2.1 Parties to the contract

4.2.2 Reserve ownership in Thailand

4.2.3 Main contractual terms

4.3 Australia

4.3.1 Ownership and acceessibility

4.3.2 Modern licensing regime

4.3.3 Australian modern licensing regime

4.4 United Kingdom

4.4.1 Licensing system

4.4.2 Features

4.5 Norway

4.5.1 Licensing regime

4.5.2 Licensing system in Norway

4.6 Conclusion

CHAPTER 5: CURRENT OIL AND GAS CONTRACT FRAMEWORKS IN THE WORLD AND COMPARISONS BETWEEN THEM

5.1 Production Sharing Agreement (PSA)

5.1.1 Definition

5.1.2 Legal nature

5.1.3 Structure

5.1.4 Main terms and features

5.2 Joint Venture (JV)

5.2.1 Legal nature

5.2.2 Main terms

5.3 Service Contract

5.3.1 Legal nature

5.4 Iranian Buy-Back Contract

5.4.1 Definition

5.4.2 Why and how Iran acceded to buy-back

5.4.3 Buy-back generations

5.4.4 Main terms of IPC

5.4.5 Critical analysis of IPC

5.4.6 Features of buy-back

5.4.7 Result and analysis criticism

5.5 Criteria for Evaluating and Comparison between Oil and Gas Contractual Framework

5.5.1 Objective

5.5.2 Ownership

5.5.3 Management

5.5.4 Cost and risk

5.5.5 Government revenue

5.6 NCC Positive and Negative Points Competing with Oil and Gas Contract form

5.6.1 Objective

5.6.2 Ownership

5.6.3 Management

5.6.4 Cost and risk take

5.6.5 Government revenue

5.7 Conclusion

CHAPTER 6: DISCUSSION OF THE CHALLENGES IN PROPOSAL A NEW CONCESSION CONTRACT FOR IRAN’S OIL AND GAS INDUSTRY

6.1 Islamic (Sharia) law

6.1.1 Sources of Islamic law

6.1.2 Islamic denominations

6.1.3 Islamic Jurisprudence and Its major schools

6.1.4 Shi’a perspective on natural resources

6.2 Oil and Gas Legal Framework in Iran

6.2.1 Constitution

6.2.2 Petroleum Act 1987

6.2.3 Foreign Investment Promotion and Protection Act (FIPPA)

6.2.4 Five-Year Economic, Social and Cultural Development Plans

6.2.5 The Act to Modify Petroleum Act (1987) of 2011

6.2.6 The Duty and Authorities of Oil Ministry Act (2012)

6.3 Challenges of Adopting New Concession Contract in Iran

6.3.1 Opportunities

6.3.2 Barriers

6.4 Efficiency of New Concession Contract in Iran’s Oil and Gas Industry

6.5 Modernising Iran’s Oil and Gas Contract Framework and Regulation

6.5.1 Modernising Iran’s oil and gas contract framework

6.5.2 Modernising Iran’s oil and gas regulation

6.6 Proposing New Concession Contract (NCC) Framework

6.6.1 Ownership of oil and Gas in NCC

6.6.2 Control and management over oil operations

6.6.3 Financial Regime in NCC

6.6.4 Build-Operate-Transfer (BOT)

6.6.5 Leasing and license

6.7 Conclusion

CHAPTER 7: CONCLUSION

7.1 Financial Issue

7.2 Geological Factors

7.3 Challenging the Status Quo

7.4 Future Proposals of NCC

Bibliography

 

 

 

About the Author

Mahmoud Fard Kardel has a PhD in law from Western Sydney University in Australia (2018). Kardel has practiced law in Tehran (2007) and is due to take on an academic position as an assistant professor of law at Shahid Beheshti University (National University of Iran) in July 2019.

About the Series

Routledge Research in Energy Law and Regulation

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Subject Categories

BISAC Subject Codes/Headings:
LAW000000
LAW / General
LAW014000
LAW / Commercial / General
LAW021000
LAW / Contracts
LAW070000
LAW / Natural Resources