The Application of Rational Model in Strategic Decision-making for Maximum Efficient Recovery from “South Pars-North Dome” Joint Field: A Conceptual Model with Emphasis on Legal Requirements

Abstract

The lack of observing maximum efficient recovery in the process of production from South Pars-North Dome super-giant field has resulted in serious damage to its rate of recovery. Despite the existence of conventional strategies for exploiting joint fields in international treaties, Iran and Qatar has not attempted to utilize these treaties in order to arrive at an efficient production trajectory. To achieve a feasible strategy, the use of rational decision-making model is recommended in this paper. This will allow both countries to formulate joint decisions in reservoir management towards achieving maximum efficient recovery from this field should the conditions and assumption of the model are satisfied. In order to achieve this objective it is necessary that both countries initiate fundamental improvements in their oil and gas legal systems. Hence a number of necessary improvements are introduced upon the identification of some weaknesses in oil and gas law in both countries.

Keywords

• maximum efficient rate of recovery
• south pars– north dome field
• conventional strategies for exploitation of joint fields
• rational model of decision-making