designing the framework of revenue sharing contracts, considering the change of important economic circumstances of a project

as observed in some oil and gas countries, upstream service contracts, for instance buy-back contract in iran, would provide an appropriate environment for the development of oil and gas fields. however, certain cases, such as common structures and reservoirs, deep sea oil fields or second and third generations of an oil field may require more attractive contractual mechanisms in the eyes of iocs. for this purpose, the suggested framework of revenue sharing contract would bring balancing situation between hc/noc from one hand and ioc from other hand, and also protect and safeguard the main concerns of the host country, namely, sovereignty and possession or title rights of hc/noc.