Public Law Studies Quarterly

The Status of International Joint-Venture Contracts in the Iranian Oil Industry

Document Type : Article

Authors

Maryam Bolandi Barzoki 1
Dr Mahmoud Jalali 2

1 Ph.D. Student of Private Law, Department of Law, Faculty of Administrative Sciences & Economics, University of Isfahan, Isfahan, Iran

2 Associate Professor, Department of Law, Faculty of Administrative Sciences & Economics, University of Isfahan, Isfahan, Iran

https://doi.org/10.22059/jplsq.2021.301882.2412
Abstract
Joint venture is a contract whereby two or more business partners participate in the execution of a specific economic plan and invest in that plan through cash or non-cash. Joint venture is among the international contract models that can be and is used in the oil industry. In Iran, this contractual method was permitted under Oil Act of 1957 but the law was changed. First the use of this method was limited in the "upstream operation" of the oil industry by the Oil Act of 1974 and then the Oil Act of 1987 prohibited the use of any type of cooperative method in the oil industry. Although a law passed in 2011 amended the provisions of the 1987 Act. The main question this paper is the following: is it allowed to use this contractual model under the new rules in oil and gas industry? With the introduction of new oil contracts in the post-JCPOA and in view of the fact that one of the country's top priorities is attracting foreign investment, it seems new laws have explicitly or implicitly permitted the use of this model of contract in the oil contracts.

Keywords

international trade law
foreign investment
joint-venture contract
oil and gas industry

  1. English

    1. A) Books
    2. Ripinsky, Sergery. Williams, Kevin (2015), Damages in International Investment Law, British Institute of International and Comparative Law.

     

    References in Persian:

    1. A) Books
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    1. C) Documents:
    2. Bylaw on Foreign Investment Promotion and Protection Approved in 2002 (In Persian).
    3. Bylaw on Non-oil Buyback Contracts (Paragraph and Article 85) of the Ministry of Economic Affairs and Finance, Ministry of Commerce, Approved in 2000 (In Persian).
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    6. Law of the Fourth Plan of Economic, Social and Cultural Development of the Islamic Republic of Iran, Approved in 2000 (In Persian).
    7. Law of the Third Plan of Economic, Social and Cultural Development of the Islamic Republic of Iran, Approved in 2004 (In Persian).
    8. Regulations on Foreign Investment, Rules Governing Contracts, Civil Partnership and Buyback (In Persian).
Public Law Studies Quarterly
Volume 53, Issue 2
Summer 2023
Spring 2023
Pages 853-875

  • Receive Date 29 May 2020
  • Revise Date 08 November 2020
  • Accept Date 25 January 2021

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