Companies prequalified to bid for one of 12 blocks in Iraq’s upcoming fourth licensing round have since last week been poring over the adjusted terms introduced by Iraq’s oil ministry to the second version of the draft “exploration, development and production service contract” or EDPSC. The new terms offer incentives to companies based on comments and observations they provided to the petroleum contracting and licensing department. It took longer than…
Tag: production sharing
Iraqi Oil Policy & Constitutional Issues
Joseph Bell & Cheryl Saunders – Iraqi Oil Policy & Constitution Issues Regarding Federal and Regional Authority
Ashti Hawrami
The Kurdistan Regional Government’s minister of natural resources, Ashti Hawrami, spoke to Ruba Husari in Erbil late July on the latest developments in Kurdistan’s upstream and downstream sector, the smuggling controversy, differences with Baghdad over crude exports and the fate of the federal hydrocarbon law. Q. What’s the status of the different contracts signed so far with the KRG and how is work progressing on the ground? A. We have…
Iraq Watch – Legal Limbo
9 November 2008 In response to the controversy over whether the Iraqi oil ministry has the right to award oil field development contracts under its first bid round, former Oil Minister Thamir Ghadhban argued that the ministry relies on a 1987 law that placed the powers to sign contracts into the hands of the oil minister and on the fact that the 2005 Iraqi constitution does not require the legislature’s…