Oil & gas legislation and major developments
The Kurdistan Oil and Gas Law was approved by the Kurdistan Parliament on 6 August 2007. This link provides Arabic and English versions of the law, as well as a model production sharing contract:
The Kurdistan Regional Government (KRG) and the federal government in Baghdad agreed that the February 2007 draft federal oil and gas law will be the basis for a future law. The draft law is available in English and Arabic:
The KRG and the federal government in Baghdad agreed a draft revenue sharing law for Iraq in June 2007. The draft law is available in English and Arabic: Draft Iraq revenue sharing law
Dr Ashti Hawrami, the KRG Minister for Natural Resources, discussed the draft revenue sharing law and hydrocarbons policies of the KRG and the federal government at a UN hydrocarbons conference in April 2009.
In May 2009 OMV and MOL announced investments to access natural gas from the Kurdistan Region for local supply and export throught the Nabucco pipeline.
KRG oil and gas contracts
The KRG has signed oil & gas production sharing contracts under the Iraqi Constitution and the Kurdistan Oil and Gas Law. Please click here to read the contracts.
- 25 Jun 08: KRG and Korea National Oil Corporation sign new petroleum contracts
- 12 Nov 07: KRG signs five more petroleum contracts
- 2 Oct 07: KRG Natural Resources Ministry announces new Kurdistan Region petroleum contracts
- 26 Feb 07: KRG supports draft Federal Oil Law. Five pre-2005 contracts under review
Legal and economic opinions on Kurdistan Region’s oil and gas contracts
- International expert finds KRG oil contracts “in the national interests”, “far superior” for Iraq than model contract proposed by Baghdad federal oil ministry
- Oil and gas rights of regions and governorates