Overview

The first steps towards restructuring and reorganizing the institutions and legislation of the Iraqi oil and gas industry must include taking ownership of resources, allocating acreages to Iraqi Kurdistan and neighbour states, improving the transparency as well as governmental participation and fiscal principles. It is important to provide an institutional framework that governs the operations of the industry, including its functions, structure, powers and funding. Operations in the upstream of the industry comprise licenses, leases and contracts. Other considerations covered are award processes, right of governmental participation, marginal fields, indigenous companies, termination and revocation of both licenses and leases, matters on fees, rents and royalties and, finally, provisions on Associated Natural Gas. The legislation in the downstream sector focuses on licensing, refining, marketing and pricing of oil products, transport logistics and facility management companies, pipelines and depots. The operating stocks and Iraq strategic stocks are also necessary. The needs of the downstream natural gas include both technical and commercial licensing regulations and conditions, as the network, gas supply licenses, transportation pipelines licenses and the whole sale market in addition to the possibility of third party access, customer protection, the pricing regime, public service obligations, competition and market regulation. The legislation is an amendment to the existing Iraqi Technical Service Contracts (TSC) and Production Sharing Contracts Agreements (PSC) in Iraqi Kurdistan based on the need to create a new fiscal framework that takes various compelling issues into consideration. It needs to capture the full gas value chain for taxation purposes in order to develop a fiscal regime for gas removed from oil and to create thereby a level playing field for all investors in gas and promoting the effective management of costs across the industry, which in turn wi

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9783954250042

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Dr Muhammed Mazeel Al-Aboudi has worked for many years in the international sector of the oil and gas industry in several countries. He studied at the Faculty of Mining and Geology-Department of Petroleum engineering of the University of Belgrade (Diploma in Engineering), the Escuela Superior de Minas in Madrid, Spain (Credit in Applied Geophysics Engineering) and the University of Clausthal-Zellerfeld in Germany. He was awarded a PhD in Petroleum Engineering by the Technical University of Clausthal. He is working on another PhD in Petroleum Economics. After completing his PhD, he started working as Petroleum, Drilling, Production and Reservoir Engineer, focusing on issues like Fiscal Regimes, World Oil and Gas Field Developments, Investment, Cost Estimation, Energy Politics and Laws. Dr Mazeel has been employed in many European companies as a Senior Petroleum Engineer; He has also worked as Director General of the Iraqi Drilling Company (IDC) and Director General for the Oil Products Distribution Company (OPDC). At the same time, he was the oil industry adviser to the Iraqi Prime Minister Dr Ibrahim Al-Jaafari. He is the Author of many papers on petroleum engineering for the Society of Petroleum Engineers (SPE), the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) and the German Oil-Gas Coal Magazine (EEZ). His next books, on Exploration Strategy of own-State Petroleum Companies, Formation Damage and Fundamentals of Gas Reservoir and Production Engineering are in editing and will be published soon.

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