Checking the Status of Royalty Interest in Oil and Gas Law
Journal Title: Journal of Science and today’s world - Year 2015, Vol 4, Issue 5
Abstract
In this research, it was tried to get a deep, comprehensive and efficient understanding of royalty by explaining the meaning, concept, and legal-contractual status of it in oil and gas law, especially in upstream industry; so that besides recognizing this legal entity, investigate the conditions and areas of its development and use in a variety of conventional oil and gas contracts. At first it was tried to offer a precise and comprehensive definition of royalty, as is common in the text, context and soul of the oil and gas contracts, and then defined, separately, each of the institutions or common contractual terms similar to royalty or close to it in terms of use, and following that specified each one based on their differences. In the next step, we explained the method of calculating royalty, and then examined it in Iranian legal system before and after the Islamic Revolution, and explained its legal position in Iranian legal system in a comprehensive and inclusive fashion. In the end, we sufficed to provide a few suggestions.
Authors and Affiliations
Samer Mohabbat Pour, Islam Afzali
Keywords
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