The comparative analysis of service contract of Iraq and Iran
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Abstract
Iran and Iraq are rich in oil and gas resources in the Middle East, risk service contract was adopted in Iraq in 2009.This kind of contract was also popular all over the world because of huge oil and gas filed in Iraq.The buyback contract in Iran was too restrict to employ, and the investment environment is a little bit complicated, many international oil and gas companies retreat from Iran.Iran studied from the opening bid of Iraq, also adopted risk service contract in 2017, which is similar to the contract of Iraq.The unique trait of this kind of contract is that the main profit is remuneration fee per barrel, so the contractors can’t get huge profit.Although both contracts are risk service contracts and are similar workflow of revenue split, the details of fiscal terms are different.The contract of Iran is stricter than that of Iraq.The implementation of the contract of Iran will be introduced in the paper, and comparing the difference of fiscal terms and revenue split.It provides some information for understanding of this kind of contract and for the old and new project evaluation in Iran and Iraq.
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