Y. Abul Failat, The Iraqi Federal Oil and Gas Law 2011: Exploration, Exploitation and Expropriation

In Iraq, a severe crisis has affected the country's primary infrastructure, through years of war and political turmoil. This has steadily been increasing the levels of stress throughout the economy and has contributed to poor political and social development. Consequently this evolution of events has culminated in rendering oil and gas hydrocarbons as the only possible source of income capable of rebuilding the economy of Iraq. The legal framework addressing hydrocarbons, under the proposed Federal Oil and Gas Law 2011 and related constitutional provisions, has been subject to debate due to the manner in which power is distributed between the central government and sub-central units; the contractual instruments it opts for, and the manner in which it weakens the most important bodies in Iraq. Despite the law's stated objectives and best intentions, the current legal framework is inadequate to meet the political, economic, physical and technical context within which it must operate and therefore presently fails to protect the interests of the Iraqi nation and its people.

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