International Oil Cooperative Development Contract Research

The basic legal form of international petroleum development is the International Petroleum Cooperation Development Contract (IPCDC), namely the legal document achieved after negotiation between the oil production country's government or its national petroleum company and foreign oil companies, which adjust their rights and obligations in cooperative development of petroleum. IPCDC is formed in the long-term practice of international petroleum development, results from the balancing of the interests of both contract sides, and provides the legal basis of the international petroleum cooperation. Therefore, this paper is divided in four parts to launch the research.Part one serves as a background to study the subjects of international petroleum cooperation development contracts. Firstly, the paper described the concept of international petroleum cooperation development, and the meaning of it that included the key words as: national sovereign, internationality, standard, specialization, mutual complementarity, and long-term. Secondly, to expound the reason and historical evolution of international petroleum development. The disequilibrium of the world petroleum economy determines that the petroleum development has to be internationally and cooperatively. The international petroleum development has gone through three historical stages: lease period, confrontment period and cooperation period, which represented the winding course of the evolution and indicated the historical origin and complexity of IPCDC as well. The essential work procedures of petroleum development were introduced finally, which helps to understand the content and clauses of IPCDC.Part two studies the legal fundamental theories of international petroleum cooperation development contract. The paper examines the context and meaning of the title of IPCDC at first, thus to focus the research object from the respects of historical evolution, contract content and cooperative forms. Secondly, The legal features of IPCDC was inducted in 4 items: 1, the special characters of contract's parties; 2, concession is the premise to the contracts; 3, contract contents are very complicated and various; 4, contract terms could be adjusted dynamically. Thirdly, the legal nature of IPCDC has been demonstrated, as an conclusion that IPCDC is international business contract but not only a domestic agreement or international treaty. Fourthly, the paper...