The Legal Dimensions of Oil and Gas in Iraq
Current Reality and Future Prospects

The first and only comprehensive examination of current and future legal principles designed to govern oil and gas activity in Iraq.

Rex J. Zedalis (Author)

9781107672482, Cambridge University Press

Paperback / softback, published 6 March 2014

360 pages
22.9 x 15.2 x 1.9 cm, 0.48 kg

"Zedalis's analysis has been informative, revealing, and at times frightening. Zedalis's book will be useful to anyone who wants a better understanding of the processes that take place when developing law-particularly anyone with a relevant interest in oil and gas legal rules."
-Victoria A. Redd,University of Florida Levin College of Law

This book is the first and only comprehensive examination of current and future legal principles designed to govern oil and gas activity in Iraq. This study provides a thorough-going review of every conceivable angle on Iraqi oil and gas law, from relevant provisions of the Iraqi Constitution of 2005; to legislative measures comprising the oil and gas framework law, the revenue sharing law, and the laws to reconstitute the Iraq National Oil Company and reorganize the Ministry of Oil; to the Kurdistan Regional Government's 2007 Oil and Gas Law No. (22) and its accompanying Model Production Sharing Contract; and to the apposite rules of international law distilled from both controlling UN resolutions addressing Iraq and more generally applicable principles of international law. This text is essential to the reading collection of every practitioner, business executive, government official, academic, public policy maven, and individual citizen with an interest in the details and controversial aspects of Iraqi energy law.

Part I. The Contextual Background: 1. The facts regarding Iraqi oil and gas reserves and their legal status prior to self-governance
2. The provisions of the Iraqi constitution addressing oil and gas activities: of the role of sub-central governing entities, handling of revenues, and 'present' v. 'future' fields
Part II. The Complications Associated with Iraqi Legislative Measures: 3. The federal oil and gas framework law and sub-central government responses
4. A primer on the federal model production sharing agreement and the Kurdistan regional government's model production sharing contract
5. The federal oil and gas revenue sharing law - its many problems
6. Measures to reorganize the Iraq National Oil Company (INOC) and the ministry of oil
7. The matter of creditor claims: an examination of United Nations' Security Council Resolution 1790 (18 Dec. 2007) and its predecessors
8. Central government authority to strike oil and gas development agreements in the absence of a federal framework law
9. Distributing profits in the absence of a federal revenue sharing law
10. Changing the mix: transition fails and the face of Iraq is altered.

Subject Areas: Energy & natural resources law [LNCR], Public international law [LBB], Political economy [KCP]