The New Face of Iranian Buyback Contract: Any hope for Foreign Investment?
Article from: OGEL 1 (2009), in Middle East, Buy Back Contracts
Nothing provokes discussion in Iranian Energy sector apart from Iranian nuclear pursuit than the Introduction of Buyback contract in the sector in 1989. The Buyback contract anchored under Article 81 of the Islamic Republic of Iran's Constitution is a form of service Contract in which a Contractor funds all investments in field development and receives remuneration from National Iranian Oil Company (NIOC). From the Government view point Buyback contract is an efficient means of attracting foreign investment, and technology transfer while its critics argue that the scheme only lead to the ...