Government's authority to change the long-term contracts for the sale of oil (attachment of upstream contract)

According to the legislator, the compensation of oil companies for service contracts (Buyback and IPCs) will be conditioned to gain commercial production of the field and the place of sale of the same products or proceeds. In this regard, long-term contracts for the sale of oil shall be concluded as an attachment of upstream contract and for reimbursement of costs and Contractor fees. The implementation of these contracts over time, changing conditions in the domestic and global markets, the importance of oil in energy supplying, and its political and economic impact on the region and the world, have made these contracts subject to change . Because of importance of the subject, after determining the nature of long-term oil sale contracts, attachment, it will be the subject of this research to examine the authority of the government to change them and the effects and consequences of this change. Finally, an appropriate solution is offered to safeguard the rights of the foreign investor so that his legitimate rights and expectations are safeguarded and upheld, while respecting the government's extra-contractual rights and powers.