نوع مقاله : مقاله علمی - پژوهشی
1 استاد حقوق دانشگاه تهران، تهران، ایران.
2 دانش آموختۀ دکتری حقوق نفت و گاز، دانشگاه تهران، تهران، ایران.
عنوان مقاله [English]
After conclusion of upstream agreement, the International Oil Company (IOC) may be required to carry out upstream operations with the participation of the National Oil Company (NOC). As a result, after the conclusion of upstream agreement, a joint operation agreement is concluded between the NOC and the IOCs and a participating interest is allocated to the NOC. By allocating a stake to a NOC, one should expect the obligations and risks of the IOC in the upstream agreement to be transferred to the NOC, which in fact means a reduction in the IOC’s obligations under upstream, but this is contrary to the upstream agreement. Since NOC’s cannot participate in operations as a real partner like a petroleum contractor, it is a question of how financial arrangements should be designed so that a NOC can accept participating interest in the joint operating agreement without accepting a commitment or risk. Accordingly, the participating interest of NOC is in the form of a carried interest, meaning that the NOC’s share of costs up to a certain point (often commercial discovery) is borne by the IOCs and after that point the NOC reimburses all previous expenses in cash or the expenses are recovered from NOC’s entitlements.