Iranian Petroleum Law

The Iranian Petroleum Law governs the exploration, extraction, and management of oil and gas resources in Iran. It establishes the legal framework for contracts between the government and foreign companies, ensuring that Iran retains ownership of its hydrocarbon resources. The law outlines the rights and obligations of parties involved, including profit-sharing, royalties, and environmental protections. It aims to promote investment in the energy sector while ensuring national interests are prioritized. Overall, it serves to balance attracting foreign expertise and capital with protecting Iran's sovereignty over its natural resources.