ABSTRACT
The 100-year old history of the Iranian oil industry has been extensively chronicled by many authors and it is a fascinating tale of a nation struggling initially to obtain its rightful and contractual royalty and share of the income from a concessionary regim. Iranian Petroleum Industry representatives expounded on their plans at the Iranian Oil, Gas and Petrochemical Forum held in London in July 2000. The revolutionary turmoil that started in mid-1978 had a paralyzing effect on the oil and gas industry of Iran, especially during the fourth quarter. The war with Iraq had wreaked havoc with the Iranian economy. The discussions gradually emerged the contours of a service type agreement called "buy-back," which ostensibly satisfied the constitutional and ideological strictures of the Islamic Republic. The history of planning since the Revolution, and the policy choices recommended by each Plan, attests to a keen understanding of the issues facing the energy sector and the dangers of inaction.
