Research into Contract Mode in International Oil Corporations´ Oil Cooperative Development Projects

With the further expansion of economic globalization and a great upsurge in the internationally cooperative development of oil, the beneficial choice of the contract modes and terms of the cooperative development has become one of the most important issues for the international oil corporations (hereafter called IOC) who positively participate in this upsurge. Due to the benefit gambling situation between the host government and IOC, adopting any kind of unilaterally favorable contract mode would damage the cooperative relation. Justice and peace of mind are the keys for achieving a win-win circumstance. In this paper, the modes of contract, the difference and similarities of contracts will be analyzed, the new trend of contracts be discussed, and some suggestions for IOC be put forward.