Kurdistan Regional Government
WED, 8 JUL 2020 04:54 Erbil, GMT +3




Important notice: This is KRG's old cabinet website.
For updated information about Kurdistan Regional Government
visit GOV.KRD please

Kurdistan petroleum law gets first reading in Kurdistan’s parliament

MON, 9 JUL 2007 12:32 | KRG Cabinet

Kurdistan petroleum law gets first reading in Kurdistan’s parliament

Erbil, Kurdistan-Iraq (KRG.org) - Today Mr Adnan Mufti, the Speaker of the Kurdistan National Assembly (parliament), announced the first reading of the draft Kurdistan Region Petroleum Law. The law was transmitted from the Kurdistan Regional Government’s (KRG) Council of Ministers to the Kurdistan National Assembly early last week.

"The Kurdistan National Assembly clearly understands the significance of this long-awaited draft law", said the Speaker, after the first reading. "It is vital to the future of the Kurdistan Region that we have a modern, transparent, investor-friendly petroleum law that maximises returns to all the peoples of Iraq."

The Speaker noted that the Secretary of the National Assembly confirmed last Friday that the draft Law is consistent with the Kurdistan Region's rights and obligations under the Iraqi Constitution, and is consistent with the rights of the Kurdistan Region recognised in the draft Iraq oil and gas law agreed in February and the draft Iraq revenue sharing law agreed in June.

The Iraqi Constitution, in Articles 111, 112, 115, and 121, specifies that petroleum management is a Regional power, with Regional law taking priority. The draft Iraq oil and gas law, agreed by the federal council of ministers in February 2007, recognises the Kurdistan Regional Government's authority to regulate petroleum operations in the Kurdistan Region. The draft Iraq revenue sharing law, agreed in June 2007, provides for the equitable distribution of all Iraqi petroleum revenues, including Kurdistan Region’s revenues, with a guaranteed allocation of 17% of those revenues to the Kurdistan Region.

The Speaker confirmed the commitment of the Kurdistan National Assembly to the Iraqi Constitution. "The Iraq Constitution was approved by more than 99 per cent of voters in the Kurdistan Region, and by nearly 80 per cent of voters throughout Iraq", he noted. "It establishes a federal system that is the only way forward for Iraq. It is clear from this draft Petroleum Law that the Kurdistan Regional Government is committed to cooperating with Baghdad and sharing all revenues from Kurdistan petroleum with the rest of Iraq."

Mr Mufti also noted that the draft law had been the subject of a year of hard work and consultations between the Assembly, the KRG Ministry for Natural Resources, and the KRG Ministry of Justice. "I know how much care has gone into this draft. The level of public consultation, including with international experts, NGOs, and potential investors, both in the Kurdistan Region and abroad, is particularly commendable. We look forward to further discussions in the Assembly of this important Law."

After the first reading today, the Speaker referred the draft Petroleum Law to the Legal Committee and the Financial and Economic Committee of the Kurdistan National Assembly. Those committees will prepare a report on the draft for the coming session of the Assembly, on a date to be determined, for the Assembly to consider and vote upon it.

The draft Kurdistan Region Petroleum Law is available in English and Arabic.

The draft Iraq Revenue Sharing Law is available in English and Arabic.

For inquiries, please contact spokesman(at)krg.org


Related Articles

Natural resources

SUN, 21 JUN 2009 22:42

Oil & gas legislation and major developments

The Kurdistan Oil and Gas Law was approved by the Kurdistan National Assembly, the Region’s parliament, on 6 August 2007. This link provides Arabic and English versions of the law, as well as a model production sharing contract:
Kurdistan Oil & Gas Law in English and Arabic, and model production sharing contract

The 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:
KRG publishes draft Federal Oil and Gas Law of Iraq 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 see:

29 Jul 08: KRG announces 461 million square foot site for Kurdistan Gas City

25 Jun 08: KRG and Korea National Oil Corporation sign new petroleum contracts

23 Jun 08: KRG signs petroleum contracts with Talisman Energy

12 Nov 07: KRG signs five more petroleum contracts

6 Nov 07: Ministry of Natural Resources announces seven new petroleum contracts for Kurdistan Region, reviews five existing contracts

2 Oct 07: KRG Natural Resources Ministry announces new Kurdistan Region petroleum contracts

8 Sep 07: KRG signs oil and gas contract with US-based Hunt Oil and Impulse Energy Corporation (IEC)

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

International law expert confirms KRG’s authority to manage oil & gas resources

Oil and gas rights of regions and governorates

Other information

1 June 2009: Minister Hawrami’s speech at oil exports ceremony

7 Feb 2008: Minister Hawrami speaks at the Chatham House think tank, London

Profile of Natural Resources Minister, Dr Ashti Hawrami

KRG.org search tool
To find other KRG press releases about oil and gas and revenue sharing, please use the Google Custom Search function at the top of this website. You can also find the press releases using the archive search tool, for example by searching for the terms 'oil', 'petroleum' or 'revenue'. Alternatively please look in the News -> Press Releases section of the website for the most recent KRG press releases.

KRG requires clarity from Iraqi cabinet on text of draft oil law

TUE, 3 JUL 2007 18:05

The Spokesman
Kurdistan Regional Government

The Iraqi cabinet in Baghdad today announced that it has approved the hydrocarbon law and will submit it to the Iraqi parliament for its approval tomorrow.

However, the Kurdistan Regional Government (KRG), a key party to the negotiations on the hydrocarbon law, has not seen and approved the final text of the law, for the following reason. The Iraqi cabinet’s legal committee, which has a remit to harmonise and standardise legal texts for the purposes of consistency, has gone beyond its remit by making material and substantive changes to the content of the law.

KRG publishes final Kurdistan Region draft oil law, model contract, exploration blocks

FRI, 29 JUN 2007 10:55

The Kurdistan Regional Government (KRG) is pleased to publish the final draft of the Kurdistan Region Petroleum Law in ARABIC and ENGLISH, which has now been approved by the Legal Committee of the Council of Ministers. In its next meeting the Council of Ministers will review the law and is expected to put it to the Kurdistan National Assembly (parliament) for approval.

Revenue Management and KRG Draft Petroleum Act

SUN, 22 OCT 2006 22:59

22 October 2006 - Today the Ministry for Natural Resources of the Kurdistan Region of Iraq published a final draft of a Petroleum Act for the Region, for consideration by the Kurdistan National Assembly, the Region's parliament.

KRG Natural Resources Minister: Draft Petroleum Act a win-win for all Iraq

WED, 20 SEP 2006 23:08

London, UK (KRG.org) – Dr. Ashti Hawrami, the Kurdistan Regional Government’s (KRG) Minister for Natural Resources, held a briefing today on petroleum exploration and development in the Kurdistan Region to an audience of more than 60 oil industry representatives, analysts and journalists.

KRG publishes final draft petroleum law

SAT, 9 SEP 2006 23:13

9 September 2006 - The Kurdistan Regional Government today published a final draft of the petroleum law for Kurdistan. This draft will be discussed by the KRG Council of Ministers and forwarded to the Kurdistan Parliament for its consideration.

KRG Natural Resources Minister responds to comments on draft Kurdistan Petroleum Act

TUE, 22 AUG 2006 23:23

The KRG decided to publish our Draft Petroleum Act for the Kurdistan Region for public consultation on 7 August. This was intended to generate some feedback internally as well as from the wider international investment community regarding the fairness and the clarity of the proposed Act.

KRG puts forward draft petroleum law for discussion

MON, 7 AUG 2006 23:27

Monday 7 August 2006, Erbil, Kurdistan - Iraq (KRG) – Within the rights set out in the Iraqi constitution, the Kurdistan Regional Government today circulated for discussion the first draft of a new proposed petroleum law.

Oil and gas rights of regions and governorates

TUE, 13 JUN 2006 23:20

Erbil, 13 June 2006 (krg.org) - In response to various enquiries, Dr. Ashti A. Hawrami, the KRG Minister of Natural Resources, answers questions about the constitutional rights of regions and governorates regarding oil and gas resources. The answers have been prepared in accordance with independent constitutional advice provided to the Minister.