Study of Time Factor in the Development of Joint Fields in the Form of Buy Back and IPC Contracts Study of Yadavaran Oil Industry

In this paper, regardless of the sanctions in the country, by examining the importance of time factor in starting development and harvesting operations from the common sample field, optimal production is estimated based on reservoir engineering equations and using Darcy equation and compressibility equation and solving mathematical model (maximizing NPV), three scenarios of cogeneration, earlier and later than the competitor in the form of two reciprocal contract methods and IPC have been examined and compared. The results show that in the cogeneration scenario, our country will not be harmed. But what distinguishes the benefits for the two rival countries is the volume of investment and harvesting technology, which is done by installing high-capacity surface facilities and digging more wells. In the second scenario, in addition to extracting from the field resources 10 years earlier and gaining benefits, the less production effects of the reservoir pressure drop are more noticeable to the competitor, and in the third scenario, the opposite will be true. Also, in all three scenarios, the estimation of the optimal output from the field and the net present value using the IPC method is more than the reciprocal method. JEL Classification: Q38, Q35, K12. KEw Words: Oil and Gas Fields, Net Present Value, Mutual Sale Agreements, Iran Oil Contracts (IPC).