Strategies for Upholding Confidentiality in ‎Petroleum Contracts

Information in petroleum contracts and petroleum projects is inevitably exchanged between investors (contractors) and host states (owners). There are some data in the petroleum industry that are highly valuable, and they can have a major impact on the competition between oil companies. Within a reasonable legal system, transparency is an essential feature that limits confidentiality. Considering this contrast, it is imperative to understand confidentiality strategies in petroleum contracts. This will help us to devise better policies regarding confidentiality and transparency in the oil and gas industry. In this research, we have distinguished and examined confidentiality and transparency strategies in the petroleum contract. According to the results, a strict confidentiality strategy was the worst strategy because it is at odds with international norms and ineffective for keeping information confidential.