11 July 2016 - 09:42
  • News Code: 264656
Lawyer Stresses Predictability of New Oil Deals

TEHRAN, July 11 (Shana) – Head of the international legal affairs of the Presidential Office stressed the element of predictability in the new oil model contact model.

Mohsen Mohebbi told the International Conference of Optimizing Upstream Oil and Gas Contracts on Sunday, said the different parties of deal will have a better understanding and prospect of their cooperation once they can have an intelligible prediction of the future of the deal they are signing.

He said oil and gas deals are intrinsically complicated deals and disputes can be the case in the way of implementing the deals. 

Iran is devising a new contract model to replace buy-back deals for development of its oil and gas deals. 
The country has pitched nearly 50 major energy projects to be developed under the new contract model. 
News Code 264656

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