Petroleum Contracts in Iran

Abstract

In an oil industry, the oil counter purchase in which a foreign investor makes a pledge to finish all or part of a project in identifying, exploration and exploitation of the field or specific fields by providing goods or raw materials and guarantee the return of the capital by providing machinery and services equipment and intellectual property rights. Buy-back contract has a name which the main reason behind its formation is available in the basic law. Of course, government’s ownership and its sovereignty toward oil and gas resources which keeps the interests of the country should be included in all contracts. Iran has the second place after Saudi Arabia among countries which are having oil resources and these oil resources have made other countries to understand the importance of Iran.