Oil industry projects require capital, knowledge, and are associated with risk. The important things in defining the type of investment contracts are obligations and the share of benefit of the parties. After the long-term experience of using service contracts in Iran, by using the IPC model contracts at the beginning of the 90s,, the presence of the contractor in the operation period has been recognized. Among the investment contracts in which the role of the operator is very important, are the so-called BOT contracts. The use of this type of contract in Iran has a long history in non-oil industry, and in case of using this type of contract in the oil industry, it will lead to the development of efficient investment due to its specificities. The use of BOT contracts in the upstream area of the oil industry is not associated with the general prohibition of upstream laws, and requires specialization according to laws and regulations. Since the use of this type of contract requires more familiarity of executive agents with it; it is suggested that the projects of improving the recycling rate or increasing the capacity should be considered first, so that the project can be implemented by this type of contract with more complete information.