The issue of determining the applicable law governing oil investment contracts is becoming more difficult and complex in view of the special importance that these contracts enjoy because they are concluded between states on the one hand and foreign legal entities on the other hand. The foreign investor usually looks to the contract law to remain constant and stable as it is. At the time of concluding the contract, while we find the state, as the holder of public authority, has the right to exercise the legislative function to protect the public interest, and given the importance of the activity Commercial investment, which takes a contractual character in commercial law and its role in developing global wealth and supporting the international economy. In this research, we will address a study at the international level by shedding light on the law applicable to oil investment contracts. Here, in the research problem, the subject of our research raises some problems with regard to the dispute rule that dominates and governs oil investment contracts, and this raises several questions, the most prominent of which is what is the law that must be applied to these disputes in investment contracts that have a foreign element? How appropriate is the rule of will law to determine the legal rules that decide disputes related to investment agreements?
Al-zweny et al. (Sat,) studied this question.
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