Professor of Law
In his new book, “The Legal Dimensions of Iraqi Oil and Gas: Current Realities/Future Prospects,” TU law professor Rex Zedalis tackles the legal dimension of Iraqi oil and gas, and in doing so provides the first comprehensive analysis of the various legal rules emerging from relevant Iraqi legislative measures and controlling UN resolutions.
“The Legal Dimensions of Iraqi Oil and Gas: Current Realities/Future Prospects” is written against a backdrop that leaves a variety of loose ends, given the internal political situation in Iraq. Nonetheless, its examination of the federal oil and gas framework law, revenue sharing law (RSL), and the laws reconstituting the Iraq National Oil Company (INOC) and reorganizing the Iraqi Ministry of Oil (MoO) provide an essential foundation for any sound understanding of how those loose ends might be eventually tied-up.
Also examined in great detail are the Kurdistan Regional Government’s (KRG) 2007 oil and gas law and the terms of the accompanying model production sharing contract, as well as the provisions of various UN Security Council resolutions that have long governed the handling of Iraqi oil and gas revenues and the insulation of such from legal claims by creditors.