ABSTRACT
This chapter provides a detailed description and analysis of the most important oil and gas contractual forms associated with historic and contemporary oil and gas industry. The concession contract – which is the central theme of this research – is subdivided into two forms: the classic concession contract (CCC) and new concession contract (NCC). This chapter will analyse the CCC and NCC, including a comparison of their distinguishing characteristics. To understand the CCC and NCC as applicable to Iran, the various forms of the concession contract used in the world’s oil and gas industries are reviewed. The primary focus is on identifying the key characteristics of the CCC and the NCC as practical globally. This chapter is divided into three sections. First, a discussion of the legal nature and features of the CCC system; second, an exploration of the NCC system and its features in relation to the provisions of some contracts to have been concluded within the new concession framework and third, a discussion of the NCC’s distinguishing characteristics from the CCC.
