International Arbitration Procedure on the Condition of Commitment to Compensate in Oil Contracts with a View to Iran's New IPC Oil Contracts

Subject Areas : Political and International Researches Quarterly

Received: 2020-12-15 Accepted : 2020-12-15 Published : 2021-02-19

Keywords: Oil, compensation, Arbitration, International agreements,

Abstract :

Maeda Chinese saz[1], Mojtaba Asgharian[2]* Abstract: Oil and gas industry players face a wide range of risks in their contracts, such as death and bodily injury, loss, and damage to property, and may lead to their bankruptcy. It is in international oil contracts that, by moving away from the traditional understanding of responsibility, they help to shift risks to the side that is in a better position. The method of the present study is a documentary and library study and its purpose is to explain the legal status of arbitrators in different stages of arbitration. The authors conclude the general tendency of foreign oil and gas companies is to take advantage of the arbitration option in resolving disputes with the host government instead of going to domestic courts. [1] - PhD Student in Department of Law, Qom Branch, Islamic Azad University, Qom, Iran, [e-mail] [2]- Assistant Professor and Faculty Member, Department of Law, Faculty of Law and Political Science, Kharazmi University, Tehran, Iran, Corresponding Author, [e-mail]