Abstract

Objectives: This research seeks to identify the role preparatory work in oil contracts because of the need of these contracts to preparatory and negotiating rounds, so that the oil-producing states- in particular developing countries- can reach to the best contracts to achieve the contractual balance. Methods: The study takes a descriptive approach to both the theoretical analysis of the provisions of some act and related legislation, the applied analysis of judicial jurisprudence on this topic. The research material was divided into two main requirements, the first of which discussed the importance and necessity of preparing for the preparatory work in oil contracts, and their legal value in the contract while the second requirement was concerned with explaining the role of good negotiation in achieving balance for the contract by identifying the obligations arising from negotiation. Results: It is necessary to focus on the preliminary stage because it is essential in achieving economic balance between them and the investing companies that enjoy economic and political influence that enables them to impose their will on those countries through the contractual terms that they put in the oil contracts. Where the problem lies in the statement of the legal value of the preparatory work and its impact on contractual obligations. Conclusions: The study concluded a set of results, the most important of which are. The chances of realizing the gains of the producing countries depending on the good performance of the preparatory work and their negotiating ability. The study also recommended the need for developing countries to enact legislation related to negotiation processes in general and oil contracts in particular, and the need to develop sovereign texts that ensure the smooth conduct of negotiation processes in a way that reflects positively on the conclusion of oil contracts and in a manner that achieves economic and nodal balance for the contracting parties.