Iran’s post-sanctions oil & gas contract framework

Iran has unveiled, at a Tehran conference of EU & Asian (but not US) oil & gas companies, a new framework for oil and gas contracts which offers more flexible terms on oil price fluctuations and investment risks. It replaces the previous “buyback” system which has been in place since pre US / EU sanctions and prevented foreign companies from booking reserves / taking equity stakes in Iranian companies. The National Iranian Oil Company will still own the resources. Reports suggest that Iran is expected to introduce around 50 oil and gas projects.

This entry was posted in Iran by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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