Energy, Oil & Gas Policy – Page 27 – Iraqi Economists Network

Iraq Oil and Gas Outlook, By UN-Joint Analisis and Policy Unit (JAPU)

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Download Iraq has proven oil reserves of 118 billion barrels and this could be increased by up to 235 billion barrels. Iraq also has 78 trillion standard cubic feet of gas reserves which could also be increased by up to 110 trillion standard cubic feet through enhanced recovery and exploration. The Iraqi Deputy Prime Minister Barham Salih stated that new exploration showed tha

Download PDF Over eleven months have passed since the signing of the oil contracts between the Federal Ministry of Oil in Baghdad and the International oil companies (IOCs) resulting from the first and second bid rounds. However, to this date none of these contracts have been publicly released or published in any foreign language. Amazingly, all the contracts are written in En

Download PDF On June 11, 2011, the Los Angeles Times reported that at least $6.6 billion out of the $12 billion of Iraq's money from the United Nations' oil-for-food program was very likely stolen, stating, "For the first time, federal auditors are suggesting that some or all of the cash may have been stolen, not just mislaid in an accounting error. Stuart Bowen, special inspe

Download This report examines Iraq’s current hydrocarbon contracts. It posits that they leave IOCs with too much control over the country’s producing fields, and suggests alternatives. Since 2009, the Iraqi federal Oil Ministry has signed 11 so-called Technical Service Contracts (TSCs) and Development and Production Service Contracts (DPSCs) with some of the world’s largest int