Document Type : Reasearch paper
Abstract
Oil contracts in all their forms that the administration concludes with foreign companies are among the most important contracts, as oil occupies global importance, and Arab countries depend on it for their national income to achieve development and prosperity for society. On the other hand, foreign companies seek to obtain the largest possible amount of profits, and the study showed the nature of these Contracts and their characteristics, as they are considered a legal act of a complex nature, and the role of the federal authority and the authorities of the oil-producing regions and governorates in the process of managing and concluding oil contracts and matching them with the current reality through analysis of the regulating constitutional and legal texts. The administration has the authority to amend and cancel oil contracts for the reasons that the administration calls for to do so in light of the principle The state’s sovereignty over its natural resources and means of management vis-à-vis its contracting party, cases of termination of oil contracts, and the necessity of expanding management powers within the contract and the oil and gas law when legislating it.
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