Identification of Oil Reserves by Iranian Exploration and Production Companies

Document Type : ISI

Authors

1 Assistant Professor, Department of Private Law, Faculty of Law and Political Sciences, Allameh Tabatabai University, Tehran, Iran.

2 Assistant Professor, Department of Finance and Banking, Faculty of Management and Accounting, Allameh Tabatabai University, Tehran, Iran.

3 student of oil and gas contract management, Department of Private Law, Faculty of Law and Political Sciences, Allameh Tabatabai University, Tehran, Iran.

Abstract

Oil and gas reserves are important for oil companies because they are a key factor in internal planning and in assessing the value and future growth potential of these companies. Considering the strategic role of Iranian exploration and production companies in the development of oil and gas fields, the present study examines various dimensions of feasibility and methods for identifying reserves using the meta-synthesis approach. The findings suggest the possibility of identifying reserves in various upstream financial systems and the amount of identifiable reserves in each type of contract using the price sensitivity criterion, which is one of the key results of the study. Additionally, regarding how to identify reserves, the study recommends the use of the economic interest method. In the event of contract cancellation, the effect of the identified reserves in the contract between the National Oil Company and the Iranian Oil Contractor is briefly discussed. Furthermore, the study proposes including a clause titled "Reserve Identification" in Iranian service contracts, which outlines the method for identifying reserves of contract elements that are likely to cause disputes.

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References

منابع
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Journal Of Researches Energy Law Studies
Volume 10, Issue 1
August 2024
Pages 73-99

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