A SURVEY OF FINANCING PROJECTS MECHANISMS IN OIL INDUSTRY OF IRAN

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ABASSI EBRAHIM; MOSTAFAVI S. IMAN

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Journal: Financial Economics Year:2016 | Volume:10 | Issue:35 Page(s): 103-130

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Title

A SURVEY OF FINANCING PROJECTS MECHANISMS IN OIL INDUSTRY OF IRAN

Author(s)

ABASSI EBRAHIM | MOSTAFAVI S. IMAN | Issue Writer Certificate

Keywords

FINANCING PROJECTS MECHANISMSQ2

OIL INDUSTRYQ1

IRANQ2

Abstract

Hyrocarbonic product including Oil & Gas export revenues play a central role in economy, social & political stability as well as the security of exporting countries. These nations are mainly categorized as developing countries and are heavily dependent on capital, management & the advance trchnology of Oil majors for exploitation of their underground reserves.On the other side the foreign Oil companies (FOCs) require security and a promising long term profit to secure any investment in host countries.These two groups mainly come together and enter in to agreement within what we refer to as Oil & Gas contracts in which the parties stipulate and agree on all the terms and conditions as well as their financial expectations thereof.Factors such as restrictions posed by legal systems, public’s historical background, economical and political status of the nation a long with several others may motivate or discourage a country as to adopt or avoid a certain type of contract.Adopting a certain type of contract may in long run affect the outcomes drastically either towards or against interests of host countries. This research, after analyzing, various finance project types conventional in Oil & Gas industry, comparing their merits and pitfalls and reviewing criticisms; aims at proposing apprpaiate options for IRAN.Using the Analytical Hierachy Process (AHP), this research compares Buy-back, Concession and Production Sharing Contracts (PSC) together to find the optimum contractual method in finance and project implemention in oil upstream section for both independent and IRANian joint fields. the most important decision-making criteria for making contract in upstream section for oil and gas industry are classified to “Befor” and “After” contract approval. the criteria were selected by Delphi method. To do this research, two questioners were filled out by professionals in OIL INDUSTRY in two stages and the data was analyzed by EC software. The analysis of data indicates that the Buyback are preferable than PSCs and Concession contracts in independent fields (63.4%) and the PSCs are preferable than Buy-back and Concession contracts in joint fields (49%).

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APA: Copy

ABASSI, EBRAHIM, & MOSTAFAVI, S. IMAN. (2016). A SURVEY OF FINANCING PROJECTS MECHANISMS IN OIL INDUSTRY OF IRAN. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), 10(35), 103-130. SID. https://sid.ir/paper/229002/en

Vancouver: Copy

ABASSI EBRAHIM, MOSTAFAVI S. IMAN. A SURVEY OF FINANCING PROJECTS MECHANISMS IN OIL INDUSTRY OF IRAN. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT)[Internet]. 2016;10(35):103-130. Available from: https://sid.ir/paper/229002/en

IEEE: Copy

EBRAHIM ABASSI, and S. IMAN MOSTAFAVI, “A SURVEY OF FINANCING PROJECTS MECHANISMS IN OIL INDUSTRY OF IRAN,” JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), vol. 10, no. 35, pp. 103–130, 2016, [Online]. Available: https://sid.ir/paper/229002/en

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