عنوان مقاله [English]
One of new Iranian Petroleum Contract (IPC) requirements is participation of the foreign company(ies) with local company(ies) forming a consortium to jointly perform the petroleum operation of the field, and the main bedrock for performance of the joint operation is Joint Operating Agreement (JOA). There are basically two types of parties in a JOA: Operator and Non-Operator(s). The main role and duty of the operator is conducting and management of the day-to-day operation of the field, while, of the non-operators is providing timely funds for conduct and participating in decisions made in respect of the joint operation. While the operator, seeks more freedom in performing its duties and obligations under a JOA, the non-operators desires higher level of control and more access to information to effectively protect their interests engaged in the main contract and JOA. In most JOAs, the non-operators are engaged in decision-makings through the Operating Committee (OpCom) and its sub-committees. In the Iranian version of JOA, the non-operators may supervise the operator’s activities via the OpCom. The main duty of the OpCom is controlling and supervising the joint operations performed in the contract area by the operator and reviewing and approving the work programs and budgets.