Received:
2017-07-20 | Accepted:
2017-10-28 | Published:
2017-12-29
Title
Effects of contractor and employer's obligations in buy back contracts: case study of oil exporting country
Abstract
Buy back contracts are one of the variety of investment in oil industry in Iran. To put it another way, the main purpose of contracts such as buy back is to increase investment and attract more capital and foreign currency in the country. As it has been proved in economics and business sciences at international level, when investment is made in a country, it directly or indirectly bears positive impacts on all groups of people. The present research study aimed to examine the juridical status of one of the buy back deal sides under the name of contractor, who is supposed to invest and develop oil fields along with other related issues so that topics such as tax payment, insurance, workers, and civil responsibilities of contractors against employer would be more taken into consideration by contractors and more importantly, contractors could know about different insurance coverages and select their intended one and also abdicate any responsibility resulted from legal crimes from themselves by setting tax returns. This, in turn, helps them to do their business activities without any problem in the host country. Furthermore, employers also have some financial and non-financial obligations to contractors including preparing the required conditions for implementation of the deal substances. Knowing about these factors helps the two sides to sign a legal deal. Finally, the present study was an attempt to present a case study, which would raise the two sides' knowledge about their rights and sign the bay back contract according to predetermined specific legal regulation.
Keywords
Buy Back Contracts, investment, oil industry, contracts, Iran economic, case study
JEL classifications
K12
, F10
, F14
URI
http://jssidoi.org/jesi/article/154
DOI
HAL
Pages
345-356
Funding
This research was supported Islamic Azad University U.A.E. Branch
This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License
Authors
Ardalan, Farzam
Islamic Azad University U.A.E. Branch, Dubai, United Arab Emirates
http://iau.ac.ae
Islamic Azad University U.A.E. Branch, Dubai, United Arab Emirates
http://iau.ac.ae
Atasheneh, Mansour
Islamic Azad University U.A.E. Branch, Dubai, United Arab Emirates
http://iau.ac.ae
Journal title
Entrepreneurship and Sustainability Issues
Volume
5
Number
2
Issue date
December 2017
Issue DOI
ISSN
ISSN 2345-0282 (online)
Publisher
VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania
Cited
Article views & downloads
HTML views: 4770 | PDF downloads: 1993
References
Alikhani, H. 2000. Sanctioning Iran: anatomy of a failed policy. London, I.B. Tauris, 352 p.
Search via ReFindit
Andreasson, G. 2008. Evaluating the effects of economic sanctions against Burma http://lup.lub.lu.se/luur/download?func=downloadFile&recordOId=1335119&fileOId=1646821
Search via ReFindit
Borger, J. and Dehghan, S.K., 2013. Iran unable to get life-saving drugs due to international sanctions. The Guardian http://www.guardian.co.uk/world/2013/jan/13/iran-lifesaving-drugs-international-sanctions
Search via ReFindit
Dehkordi, P. A.; Hamedani, A. E. 2014. Strategies for foreign investment in Iran's upstream oil industry with an emphasis on Production Sharing Contracts, Asian Journal of Research in Banking and Finance 4(12): 134-139. https://doi.org/10.5958/2249-7323.2014.01459.X
Search via ReFindit
Erdbrink, T., 2012. Iran sanctions take unexpected toll on medical imports. New York Times, 2 November, p.4. http://www.nytimes.com/2012/11/03/world/middleeast/iran-sanctions-take-toll-on-medical-imports.html
Search via ReFindit
Estelami, H. 1999. A Study of Iran’s Responses to US Economic Sanctions, Middle East 3(3) http://www.rubincenter.org/1999/09/estelami-1999-09-05/
Search via ReFindit
Ghandi, A., & Lin, C. Y. C. 2011. Do Iran’s Buy-Back Service Contracts Lead to Optimal Production? The Case of Soroosh and Nowrooz https://pdfs.semanticscholar.org/9fb0/7340399d93cd35579fef08c99a0e0a968625.pdf
Search via ReFindit
Ghandi, A., & Lin, C. Y. C. 2014. Oil and gas service contracts around the world: a review, Energy Strategy Reviews 3; 63-71. https://myassignmenthelp.com/free-samples/oil-and-gas-service-contracts-around-the-world
Search via ReFindit
Heydarian, R.J., 2012. Iran sanctions: collective punishment. Huffington Post, 30 October, p. 2. https://www.huffingtonpost.com/richard-javad-heydarian/iran-sanctions-collective_b_2008211.html
Search via ReFindit
International Energy Agency. 2009. World Energy Outlook 2009. Organisation for Economic Co-operation and Development OECD. http://www.worldenergyoutlook.org/media/weowebsite/2009/WEO2009.pdf
Search via ReFindit
Melas, V.; Lisin, E.; Tvaronavičienė, M.; Peresadko, G.; Radwański, R. 2017. Energy security and economic development: renewables and the integration of energy systems, Journal of Security and Sustainability Issues 7(1): 133-139. https://doi.org/10.9770/jssi.2017.7.1(11)
Search via ReFindit
Moret, E. S. 2015. Humanitarian impacts of economic sanctions on Iran and Syria, European Security 24(1): 120-140. https://doi.org/10.1080/09662839.2014.893427
Search via ReFindit
Pratt, S., & Alizadeh, V. 2017. The economic impact of the lifting of sanctions on tourism in Iran: a computable general equilibrium analysis, Current Issues in Tourism 1-18. https://doi.org/10.1080/13683500.2017.1307329
Search via ReFindit
Sadeghi-Boroujerdi, E. 2012. Sanctioning Iran: Implications and Consequences http://www.oxfordresearchgroup.org.uk/publications/briefing_papers_and_reports/sanctioning_iran_implications_and_consequences
Search via ReFindit
Seeberg, P. (2016). The EU and the international sanctions against Iran: European and Iranian foreign and security policy interests, and a changing Middle East. Palgrave Communications, 2(1). https://doi.org/10.1057/palcomms.2016.80
Search via ReFindit
Shiravi, A., & Ebrahimi, S.N. 2006. Exploration and development of Iran's oilfields through buyback, Natural Resources Forum 30 (3): 199-206. https://doi.org/10.1111/j.1477-8947.2006.00114.x
Search via ReFindit
Strielkowski, W.; Lisin, E.; Tvaronavičienė, M. 2016. Towards energy security: sustainable development of electrical energy storage, Journal of Security and Sustainability Issues 6(2): 43–52. https://doi.org/10.9770/jssi.2016.6.2(4)
Search via ReFindit
Tvaronavičienė, M.; Nesterova, K.; Kováčik, V. 2017. Energy security and long-term energy efficiency: case of selected counties, Journal of Security and Sustainability Issues 7(2): 349-357. https://doi.org/10.9770/jssi.2017.7.2(14)
Search via ReFindit
Van Groenendaal, W.J.H., & Mazraati, M. 2006. A critical review of Iran's buyback contracts, Energy Policy 34(18): 3709-3718. https://doi.org/10.1016/j.enpol.2005.08.011
Search via ReFindit
RSS 1.0
