Sharif Digital Repository

The economic framework of the petroleum sector exhibits significant divergence from other businesses owing to the substantial risks and uncertainties inherent in oil and gas ventures, compounded by highly unpredictable price fluctuations. Moreover, the abundance of uncertainties in the data employed for investment decisions in petroleum projects is very large, thus exerting a significant impact on the decision-making processes. This research delves into the impact of diverse risk factors on oil contracts and scrutinizes their influence on contractual dynamics. The study unfolds in three segments, encompassing an examination of economic factors shaping oil contracts, model design, and the...