Optimal Oil Production Path in the Production Sharing Contract and Compare it with the Contractor's Production Specified in the Buy Back contract
Message:
Article Type:
Research/Original Article (دارای رتبه معتبر)
Abstract:

The choice of contract type in oil fields has always been one of the main and problematic challenges in Iran and elying in making decisions in this regard leads to a dely or non-investment. On the other hand, one of the ways to recognize the components of bargaining power is to recognize and evaluate various types of international contracts. Therefore, in thiss study, while introducing the fiscal model of the contractual agreement concluded in Iran, as well as a combination of contracts for participation in traditional production in Azerbaijan with Joint venture, has been applied to financial simulation in Duroud oil field. After explaining the optimization problem using the generalized reduction gradient method, the optimal production path from the perspective of the parties to the contract is estimated andcompared with the production path specified in the buy back contract. The results show that the use of share-based indicators of project revenues and the net present value of a project for evaluate of oil contracts can be misleading. The oil production path agreed in the Buy back contract is higher than the optimal production path from the perspective of both sides of the combined contract. Tthis is due to the desire of the International Oil Company to rapidly capture capex and remuneration fee in the shortest possible time. Increase in recoverable reserves due to gas injection (presented in MDP), which was approved in buy back contract is less than its optimal amount from the viewpoint of Joint venture in a hybrid contract. This indicates that the proposed hybrid contract is closer to the Maximum Effective Rate and Maximum Final Recovery from Oilfields than the conventional buy back agreement in Iran.

Language:
Persian
Published:
Journal of Iranian Energy Economics, Volume:7 Issue: 27, 2018
Pages:
31 to 75
magiran.com/p1926698  
دانلود و مطالعه متن این مقاله با یکی از روشهای زیر امکان پذیر است:
اشتراک شخصی
با عضویت و پرداخت آنلاین حق اشتراک یک‌ساله به مبلغ 990,000ريال می‌توانید 70 عنوان مطلب دانلود کنید!
اشتراک سازمانی
به کتابخانه دانشگاه یا محل کار خود پیشنهاد کنید تا اشتراک سازمانی این پایگاه را برای دسترسی نامحدود همه کاربران به متن مطالب تهیه نمایند!
توجه!
  • حق عضویت دریافتی صرف حمایت از نشریات عضو و نگهداری، تکمیل و توسعه مگیران می‌شود.
  • پرداخت حق اشتراک و دانلود مقالات اجازه بازنشر آن در سایر رسانه‌های چاپی و دیجیتال را به کاربر نمی‌دهد.
دسترسی سراسری کاربران دانشگاه پیام نور!
اعضای هیئت علمی و دانشجویان دانشگاه پیام نور در سراسر کشور، در صورت ثبت نام با ایمیل دانشگاهی، تا پایان فروردین ماه 1403 به مقالات سایت دسترسی خواهند داشت!
In order to view content subscription is required

Personal subscription
Subscribe magiran.com for 50 € euros via PayPal and download 70 articles during a year.
Organization subscription
Please contact us to subscribe your university or library for unlimited access!