A SURVEY ON THE LEGAL REQUIREMENTS OF LOCAL CONTENT UTILIZATION IN THE UPSTREAM PETROLEUM INDUSTRY

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EBRAHIMI SEYED NASROLLAH; GHASEMI SAEDE

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Journal: Public Law Research Year:2018 | Volume:20 | Issue:59 Page(s): 63-95

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Information Journal Paper

Title

A SURVEY ON THE LEGAL REQUIREMENTS OF LOCAL CONTENT UTILIZATION IN THE UPSTREAM PETROLEUM INDUSTRY

Author(s)

EBRAHIMI SEYED NASROLLAH | GHASEMI SAEDE | Issue Writer Certificate

Keywords

MAXIMUM UTILIZATION OF LOCAL CONTENTQ1

PROJECT ASSIGNMENTQ1

WORK PERFORMANCEQ1

MINIMUM PERCENTAGE OF 51%Q1

PETROLEUM INDUSTRYQ1

Abstract

Recently, the resource-rich countries by adopting a variety of policies hasintended to increase their shares in petroleum operations. The law enactment asto the requirement for local content utilization is a way through employing theworkforces, equipment and products locally provided in the territory byincreasing the value-added to the country’s economic other than the extractionproject. Upon oil exploration in Iran, especially after the nationalization ofpetroleum industry and also the Islamic revolution, different rules andregulations have been enacted in respect of local content. Currently, the “Lawon Maximum Utilization of Manufacturing and Service Rendering Capabilitiesto Resolve the Country’s Requirements and Strengthen them in the Course ofExport and to Modify the Article (104) of Direct Tax Act” is the most importantinstrument which reflects the local content requirements including: projectassignment to Iranian companies, Iranian-foreign joint venture or foreigncompanies, performance requirement, respecting minimum percentage (51%), information requirement, monitoring and controlling requirement and refers tothe sanctions of defaults and exceptions.This article attempts to explain each of the mentioned requirements, sanctionsand exceptions and refers to the existing gaps by considering the characteristicsof PETROLEUM INDUSTRY and proposes respective recommendations as to the case.

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APA: Copy

EBRAHIMI, SEYED NASROLLAH, & GHASEMI, SAEDE. (2018). A SURVEY ON THE LEGAL REQUIREMENTS OF LOCAL CONTENT UTILIZATION IN THE UPSTREAM PETROLEUM INDUSTRY. JOURNAL OF PUBLIC LAW (LAW RESEARCH QUARTERLY) (LAW & POLITICS RESEARCH JOURNAL), 20(59 ), 63-95. SID. https://sid.ir/paper/225236/en

Vancouver: Copy

EBRAHIMI SEYED NASROLLAH, GHASEMI SAEDE. A SURVEY ON THE LEGAL REQUIREMENTS OF LOCAL CONTENT UTILIZATION IN THE UPSTREAM PETROLEUM INDUSTRY. JOURNAL OF PUBLIC LAW (LAW RESEARCH QUARTERLY) (LAW & POLITICS RESEARCH JOURNAL)[Internet]. 2018;20(59 ):63-95. Available from: https://sid.ir/paper/225236/en

IEEE: Copy

SEYED NASROLLAH EBRAHIMI, and SAEDE GHASEMI, “A SURVEY ON THE LEGAL REQUIREMENTS OF LOCAL CONTENT UTILIZATION IN THE UPSTREAM PETROLEUM INDUSTRY,” JOURNAL OF PUBLIC LAW (LAW RESEARCH QUARTERLY) (LAW & POLITICS RESEARCH JOURNAL), vol. 20, no. 59 , pp. 63–95, 2018, [Online]. Available: https://sid.ir/paper/225236/en

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