Comparative Study of the technical and engineering Risks in EPC Contracts at the Iranian Oil Industry and FIDIC

evaluating the method of contractual distribution of project implementation responsibilities and risks between the parties to the EPC contracts as one of the most important methods of risk management, commands abundant importance. In this paper, by examining the specific EPC document of the oil industry and comparing it with the industrial EPC document (5490 journal) as well as the FIDIC EPC turnkey, with the aim of evaluating the method of contractual distribution of the technical, engineering, and operational risks in these documents, We will answer the question of to what extent the compilation of the specific EPC document of the oil industry in establishing a balance between benefits and the responsibilities of the parties to the contract have been successful? The results of the comparative study confirm that although the completion of contractual vacancies and revision in 5490 journal causes more efficient and equitable contractual distribution of risks between employer and the contractor in the specific EPC document of the oil industry toward the unilateral transfer of technical, engineering and operational risks to the contractor in 5490 journal, but balancing the technical, engineering and operational risks between the employer and the contractor, like the approach adopted in FIDIC, still needs revision about method of contractual transfer of risks among contracting parties in this document.