Oil industry in Iran needs modern technology for economic development and flourishing of the country and reaching these goals is dependent on investment attraction and requires modern contracts in this domain. The current essay seeks to study Iranian new petroleum contract regarding its legal and economic impact and its benefits and risks taking into consideration the debates made by the proponents and opponents as well as various views and the tough policies of higher laws and the limitations of the Constitution.The present descriptive-analytic study shows the inefficiency of IPC (Iranian Petroleum Contracts) based on a number of reasons including the danger of penetration and domination of the foreigners into/over the national resources, concessions given to the foreign party and long term presence of the foreign investor in megaprojects, ambiguities in the transfer of developed technology, continuation of sanctions, prolonged return of the investment and conflict with resistance economy and so on and so forth. To avoid the latter problems, the authors have proposed a model as well as a number of methods that are in line with the technical, human, legal and political capabilities of the country.
