Energy contracts in Iraq: the Legal Minefield

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Energy contracts in Iraq: the Legal Minefield

Contents

1. Introduction: a difficult path: Iraq’s energy question

2. The current strategies in energy contracts:
i. Bringing Iraq back on stream
ii. International oil companies v national oil companies
iii. Contractual regimes
iv. Service contracts: federal protectionism
v. Legality and constitutionalism
vi. Upside for companies

3. Internal division:
i. The Kurdish question
ii. Kurdistan constitutional jurisdiction
iii. Stalemate: constitutional amendments
iv. Production sharing agreements: KRG disparity

4. Stalemate: the Hydrocarbon package:
i. The Oil and Gas Law
ii. Iraq National Oil Company
iii. Federal Oil and Gas Council
iv. Financial Resources Law
v. Hydrocarbon Laws: is reform the answer?

5. Legal Inroads: protecting investment:
i. Arbitration: contractual resolution
ii. Enforcement issue
iii. Arbitrators’ immunity
iv. Inadequate judicial system
v. Building the rule of law
vi. European and international influence

6. Case studies:
i. Kuwait Airways: international pressure for enforcement
ii. Rumaila Fields: champion test case

Conclusion: finding a path through the minefield