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Evolutionary Trends of Iraq’s Oil & Gas Contracts
Posted on 19 September 2012. Tags: Ahmed Mousa Jiyad, oil contracts
By Ahmed Mousa Jiyad.
The basic “model” of the Long Term Service Contract formulated and developed by the Iraqi Ministry of Oil is a distinct and unique among the known regimes governing upstream petroleum.
Though the structure of all versions of the basic model are all the same and do have many almost identical “common clauses”, the substance of each version is different reflecting two main aspects: the nature of the offered business opportunity and its particularities, and the “learning curve” in contract formulation.
This presentation, given to 4th Iraqi Petroleum Conference at Imperial College in London, attempts to provide a brief review and analysis of the progression of the contracts concluded so far.
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Posted on 19 September 2012. Tags: Ahmed Mousa Jiyad, oil contracts
By Ahmed Mousa Jiyad.
The basic “model” of the Long Term Service Contract formulated and developed by the Iraqi Ministry of Oil is a distinct and unique among the known regimes governing upstream petroleum.
Though the structure of all versions of the basic model are all the same and do have many almost identical “common clauses”, the substance of each version is different reflecting two main aspects: the nature of the offered business opportunity and its particularities, and the “learning curve” in contract formulation.
This presentation, given to 4th Iraqi Petroleum Conference at Imperial College in London, attempts to provide a brief review and analysis of the progression of the contracts concluded so far.
[You must be registered and logged in to see this link.]
