Erbil, Kurdistan-Iraq, September
9 ,-- The Kurdistan Regional Government today published a final
draft of the petroleum law for Kurdistan. This draft will be
discussed by the KRG Council of Ministers and forwarded to the
Kurdistan Parliament for its consideration.
This draft has been revised following the 7 August publication on
this website of the first draft, together with a proposed model
production sharing agreement.
The revisions have taken place following internal consultations in
Kurdistan and Iraq, and also reflect the many helpful suggestions
that the KRG has received from abroad. We express our thanks to the
many organisations and individuals who have commented on these
drafts.
Please note that we also welcome comments on this revised draft,
which we will endeavour to take into consideration as the law is
discussed in Parliament. Upon its approval by Parliament, the
Petroleum Act will also, naturally, be published.
The revisions in the draft published today reflect, for the most
part, the KRG's effort to describe in greater detail an appropriate
co-operative arrangement on petroleum licencing, operation, and
revenue sharing between the KRG and the federal government of Iraq.
This description is contained in new Annexes A, B and C. There are
also a number of technical and textual improvements to the draft.
In coming days, an Arabic language version of this draft will be
published on KRG
website.
The KRG will also soon publish a revised model production sharing
agreement, the first draft of which has also attracted many very
helpful comments. In addition, the KRG will table before the Iraq
Petroleum Committee a draft petroleum law for Iraq, to be consistent
with the Kurdistan law, and which will then be published.
The matters will be the subject of a KRG-convened conference in
London in the near future. Details of this meeting will be announced
on this website in due course.
Download the final draft petroleum law in PDF - New Window
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