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Sustainable Development of Iraqi Oil in International Law: Prospects and Challenges - Dissertation Example

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SUSTAINABLE DEVELOPMENT OF IRAQI OIL AND GAS IN INTERNATIONAL LAW: PROSPECTS AND CHALLENGES Table of Contents Table of Contents 2 List of Acronyms 3 Abstract 7 1.0 Introduction 10 1.1.Aim of the article and research questions 12 2.0.The concept of sustainable oil development in Iraq 13 There has been a drop in living conditions from 1980 to 2011, because of a drop in the GDP…
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Sustainable Development of Iraqi Oil in International Law: Prospects and Challenges
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Download file to see previous pages In regard to this matter, the state has collaborated with IOCs in a manner that can bring long term developments. The enforcement of laws and regulations specifying the terms and conditions on which foreign participation in the hydrocarbon sector is permitted, and the use of a “corporatized” structure for government-owned entities involved in the development and management of the country’s oil and gas resources can provide a level of transparency that will facilitate public scrutiny and accountability in the area. More than 70% of Iraq’s oil production comes from the fields that are being operated by IOCs under TSC. If all these contracts deliver on their oil plateau production commitments, the result would be a dramatic increase in Iraq’s productive capacity in the coming years; with potential output of more than 12mb/d from these projects by the end of the decade. Response to these developments has led to the promotion of trade and investment treaties with substantive provisions in achieving the set objectives. Lingering questions regarding the sustainable development of Iraqi oil in international law include: 17 (1).Will Iraq’s ambitions be realized? 18 (2). ...
Iraqi’s technical service contracts 28 3.4.2 Risk Service Contracts 30 3.4.3 Kurdistan Region’s PSCs/ agreements 31 3.5. Contractual clauses 32 3.5.1. Environmental standard clauses 33 3.5.2. Stabilization clauses 33 3.5.3. Clauses on access to water and other natural resources 35 3.5.4. Clauses on gas flaring 35 3.5.5. Clauses on liability, indemnity, and insurance 36 4.0.Role of the International Law 38 4.1.Petroleum as an immovable public property subject to usage under usufruct rules 39 4.2.The Usufructuary Obligations 40 4.3.Is drilling of new wells possible? 40 4.4.Application of the Usufructuary rule to Iraq 41 4.5.The private property complication 42 4.6.Foreign Interests in Petroleum 42 4.7. Transparency in oil and gas contracts as an ingredient of sustainable development 43 5.0. Iraq investment treaties 46 6.0. General outlook of Iraq 48 6.1. Analysis of the political, economic, social and environmental situation in Iraqi 50 6.1.1. Political and security situation 51 6.1.2. Economic and social situation 52 6.1.3. Iraq in the international context 54 6.1.4. Environmental situation 56 6.2. Development strategy of Iraq 57 6.2.1. UN and Iraq Government Response 57 6.3. Analysis of the viability of current policies and the medium-term challenges 59 6.3.1. Proposed law for governing resources in Iraqi 60 Two legislative laws in regard to oil and gas law draft have been formed: the Hydrocarbons Package law covering the Oil and Gas Framework Law (since October 26, 2008 but has not received final passage), and the Non-Government Organizations Law to legalize non-governmental organizations funding. 6.3.2. Human rights and environmental contractual issues 61 6.3.3 Legal challenges pertaining sustainable development in Iraq 63 6.3.3.1. Shatha al Musawi ...Download file to see next pagesRead More
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