According to the international statistics, the proved oil reserves in Iran amount to 157 billion barrels, placing this country in the fourth place globally after Venezuela, Saudi Arabia, and Canada. Exploiting these huge reserves would require attracting huge investments. Iran currently faces a profound lack of investment in the oil and gas industry due to the extended sanctions imposed by the United Nations, the United States, and the European Union in recent years. Meanwhile, in recent years, introducing modifications in the structure and terms of buy-back contracts has been under consideration. A related seminar was held in March 2014 in Tehran titled “Iran’s New Oil Contracts Forum” where the general structure and key points in the new oil contract complied by the Iran Oil Contracts Revision Committee titled “Iranian Petroleum Contract” (IPC) was unveiled. This book covers the key elements of the Iranian upstream legal framework, contracts, general Iranian law, the regulatory entities and other players in the upstream sector and the petroleum legal regime. The insights offer reliable guidance for international investors, as well as the lawyers assisting them, when they are required to consider potential investments in Iran.

According to the international statistics, the proved oil reserves in Iran amount to 157 billion barrels, placing this country in the fourth place globally after Venezuela, Saudi Arabia, and Canada. Exploiting these huge reserves would require attracting huge investments. Iran currently faces a profound lack of investment in the oil and gas industry due to the extended sanctions imposed by the United Nations, the United States, and the European Union in recent years. Meanwhile, in recent years, introducing modifications in the structure and terms of buy-back contracts has been under consideration. A related seminar was held in March 2014 in Tehran titled “Iran’s New Oil Contracts Forum” where the general structure and key points in the new oil contract complied by the Iran Oil Contracts Revision Committee titled “Iranian Petroleum Contract” (IPC) was unveiled. This book covers the key elements of the Iranian upstream legal framework, contracts, general Iranian law, the regulatory entities and other players in the upstream sector and the petroleum legal regime. The insights offer reliable guidance for international investors, as well as the lawyers assisting them, when they are required to consider potential investments in Iran.