Indemnity Clause (with Emphasis on Upstream Oil and Gas Contracts)

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EBRAHIMI SEYYED NASROLLAH; GHOLAMDOKHT SAMIRA

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Journal: Modern Technologies Law Year:2021 | Volume:1 | Issue:2 Page(s): 81-105

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Information Journal Paper

Title

Indemnity Clause (with Emphasis on Upstream Oil and Gas Contracts)

Author(s)

EBRAHIMI SEYYED NASROLLAH | GHOLAMDOKHT SAMIRA | Issue Writer Certificate

Keywords

Risk allocation

Indemnity

Hold harmless

Upstream oil and gas contracts

Compensate

Abstract

Difficulty of extraction from the depths of the earth and sea beds has made oil and gas industry the most dangerous industry in the world, so that the parties of Upstream oil and gas contracts always seek to use different solutions such as Indemnity clause to allocate the risks. According to Indemnity clause, risks is up to the party that is more capable of managing risks. Referring to the texts of Upstream oil and gas contracts especially new Iranian Upstream oil and gas contracts i. e. IPC and observation of continuously repetition of this clause in the aforementioned contracts can be regarded as a practice-a step before formation of a custom rule-in the field of Risk allocation in oil and gas industry that undoubtedly will be an effective step in formation of lex petrolea in the future. But by a survey in writings of scholars and the codifications of this clause can be founded that there is no overall consensus about the definition and scope of this clause and sometimes the scope of this clause has been confused with other similar terms. So in present article we have considered concept, nature and important notes in drafting of this provision.

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APA: Copy

EBRAHIMI, SEYYED NASROLLAH, & GHOLAMDOKHT, SAMIRA. (2021). Indemnity Clause (with Emphasis on Upstream Oil and Gas Contracts). MODERN TECHNOLOGIES LAW (CONTRACT AND NEW TECHNOLOGIES LAW), 1(2 ), 81-105. SID. https://sid.ir/paper/374185/en

Vancouver: Copy

EBRAHIMI SEYYED NASROLLAH, GHOLAMDOKHT SAMIRA. Indemnity Clause (with Emphasis on Upstream Oil and Gas Contracts). MODERN TECHNOLOGIES LAW (CONTRACT AND NEW TECHNOLOGIES LAW)[Internet]. 2021;1(2 ):81-105. Available from: https://sid.ir/paper/374185/en

IEEE: Copy

SEYYED NASROLLAH EBRAHIMI, and SAMIRA GHOLAMDOKHT, “Indemnity Clause (with Emphasis on Upstream Oil and Gas Contracts),” MODERN TECHNOLOGIES LAW (CONTRACT AND NEW TECHNOLOGIES LAW), vol. 1, no. 2 , pp. 81–105, 2021, [Online]. Available: https://sid.ir/paper/374185/en

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