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Ahmed Mousa Jiyad Iraq/ Development Consultancy and Research Norway

Evolutionary Trends of Iraq’s Oil & Gas Contracts The 4 th Iraqi Petroleum Conference-IPC Iraq: Exploration, Field Development & Operation Challenges Organized by Target Exploration 13&14 September 2012, The Imperial College, London , UK. Ahmed Mousa Jiyad

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Ahmed Mousa Jiyad Iraq/ Development Consultancy and Research Norway

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  1. Evolutionary Trends of Iraq’s Oil & Gas ContractsThe 4th Iraqi Petroleum Conference-IPC Iraq: Exploration, Field Development & Operation ChallengesOrganized by Target Exploration13&14 September 2012,The Imperial College, London, UK Ahmed Mousa Jiyad Iraq/ Development Consultancy and Research Norway Phone: +46 5659 5699 Email: mou-jiya@online.no

  2. The Main Issues

  3. Evolution Phases of the Iraqi “Model” Service Contract I- MoCs Phase- 2004/8 Number: some 40 MoCs Purpose: Joint technical studies; Training and development, and Technical consultancy. IOCs cover all costs related to these MoCs.

  4. II- Technical Support Contracts-TSC (3Q-2007/mid-2008) From MoCs to TSCs; To be implemented by the IOCs during two years 2008/9 Focus : 1- First capture the production decline of the major oilfields (Rumaila, Zubair, WQ1, Missan fields and Kirkuk); 2- Then increase their production by 400-500 kb/d. The Iraqi side pays for both the investment requirements and the IOCs fees to achieve these targets. The negotiation on the TSCs lasted from the last quarter of 2007 to mid-2008 without conclusion. • MoO then reduced the duration of the TSCs from two to one year since, at that time, they would overlap with the timing of bid rounds. • IOCs refused the one year’ period as been too short for such contracts. • Accordingly, MoO abandoned the whole idea to focus on the bidding process.

  5. III- The conversion from PSC to Service Development and Production Contract • The old DPC was signed on 4 June 1997, approved by law , but frozen on 1 January 2000 due to inactivity on the field. • MoU was signed on 23 June 2007 that led to the conversion to SDPC in Nov 2008. • Law : abrogation of former law but without new law ratifying the new contract.!? IV- Versions of the basic “Model” contract Service Development and Production Contract-(Al-Ahdab); Technical Service Contract (BR1) Development and Production Service Contract- (BR2) Gas Development and Production Service Contract- (BR3) Exploration Development and Production Service Contract- (BR4)

  6. Legal, Regulatory and Procedural Regime

  7. Fiscal Terms and Conditions

  8. Pending Issues & Conclusions

  9. Thank You

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