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The Development of Iran's Upstream Oil and Gas Industry: The Potential Role of New Concession Contracts (eBook)

Mahmoud Fard Kardel

ISBN13: 9781000699791

Published: October 2019

Publisher: Routledge

Country of Publication: UK

Format: eBook (ePub)

Price: Out of print
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This book critically examines different forms of petroleum contracts, the historical perspective of the 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.

The book involves a 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.

Subjects:: Other Jurisdictions , eBooks, Middle East, Energy and Natural Resources Law

Contents:: Abstract; List of Selected Acronyms; Key Definitions; Acknowledgements; 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 (1979-2018); 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 industry 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 and gas concession contracts; 3.2.3 Features; 3.3 New concession contracts; 3.3.1 Features; 3.4 Distinguishing between the 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 accessibility; 4.3.2 Licence and 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 FRAMEWORK 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 The NCC positive and negative points compared with other 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