Document Type : Original Article
Authors
1
PhD Student in Private Law, Isfahan Branch (Khorasgan), Islamic Azad University, Isfahan (Khorasgan), Iran
2
Assistant Professor of Private Law, Isfahan Branch (Khorasgan), Islamic Azad University, Isfahan (Khorasgan), Iran
10.30510/psi.2022.323253.2922
Abstract
The main purpose of this article is to explain one of the legal methods of maintaining the economic balance formed during the conclusion of international investment agreements in the upstream operations of oil and gas contracts from the perspective of Iranian law, which in the literature of oil and gas law entitled "Condition It is called "economic balance". During the implementation of a sample of upstream international oil and gas contracts may be political and social changes, wars, regional and international conflicts and turmoil, financial and currency fluctuations, sharp rise and fall in prices, economic crises, foreign sanctions, changes Geology and the environment, change of governments and laws and regulations. Sometimes these events lead to a fundamental change in the circumstances of the time of the contract and upset the economic balance and make it very difficult to implement and require high costs. . Therefore, the present study, using a descriptive-analytical method, seeks to answer the question that what effect can a fundamental change in the circumstances of the time of concluding the contract have on the implementation of this group of contracts? In general, in the event of a fundamental change in circumstances, three effects of dissolution, termination or adjustment may occur. Liquidation can not occur as one of these effects in upstream contracts because a fundamental change in the inherent conditions of the contract will lead to its dissolution, while the balance of exchanges or the manner of performance of the contract are not inherent
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