General Memo On Doing Oil Business In Iran

Legal and regulatory framework applicable to operate an oil business in Iran.

In brief, The Iranian oil and gas legal framework contains a series of critical pieces of legislation, including:

• The Iranian constitution law 1979,
• The Petroleum Act 1987, edited in 2011, addresses the ownership of petroleum resources and the extent of rights and powers entrusted to The Ministry of Oil.

• The Law on the duties and powers of the Ministry of Petroleum 2012,
• the Six Development Plan outlining Iran's economic policy 2017-2022, and
• The General Terms, Structure, and Model of the Iran Petroleum Contract ( IPC ) or the IPC Resolution 2016, which provides the legal framework for the Iran Petroleum Contract ( IPC )