LEGAL APPROACHES TO RISK MITIGATION IN THE SHALE OIL AND GAS EXTRACTION

Document Type : ISI

Authors

1 Professor of Law and Political Science Faculty, University of Tehran, Farabi Campus

2 PhD of Oil and Gas Law, Faculty of Law, College of Farabi, University of Tehran, Qom

Abstract

In the last decade, shale oil and gas reserves which were formerly not considered as oil and gas resources, with the advent of technology and the possibility of economic exploitation are considered as new energy reserves. This event is referred to as the "shale revolution" in the oil and gas industry. One of the mechanisms of risk management is the use of legislative and regulatory methods. In this paper, with regard to the experience of the countries active in this field, the control and management of shale project risks through legislation and regulation has been studied. To succeed in such projects in Iran, this paper concludes that the legal framework for the exploration and exploitation of shale reservoirs should first be established by the legislator and an institution composed of the Ministry of Oil, the Ministry of Energy (the water sector) and the environment should be established as the "regulator institution" Which can make necessary provisions in this area, grant licenses for exploration and extraction, and then oversee exploration and extraction operations in accordance with the laws and regulations.

Keywords

References

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13. Administrative rules of the state of Montana
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Journal Of Researches Energy Law Studies
Volume 5, Issue 2
Autumn & Winter
October 2020
Pages 313-333

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