What follows is a central theme of the draft Oil Law which is being debated by those shaping the future of the world’s second largest source of hydrocarbons.

Article 15: Competence Building and Local Content

A- The Republic of Iraq aims at the development of a competent and effective Iraqi private sector capable of substantial participation in Petroleum Operations including the acquisition, alone or together with international companies, of Exploration and Production rights. Such development shall however adhere to the objectives of professional competence in accordance with this Law. Towards this end holders of Exploration rights are encouraged to pursue cooperation and association with serious and qualified Iraqi private initiatives.

B- INOC and other holders of Exploration and Production rights shall give preference to the purchase of Iraqi products and services whenever they are competitive in terms of price, comparable in terms of quality and available on a timely basis in the quantity required.

C- INOC and other holders of Exploration and Production rights shall to the maximum reasonable extent undertake to employ Iraqi citizens having appropriate qualifications and shall undertake to train and prepare potential candidates towards this objective.

D- INOC and other holders of Exploration and Production rights shall maximise to the greatest reasonable extent, training and technology transfer opportunities for Iraqi nationals, at all levels of Petroleum Operations including management.

E- INOC and other holders of Exploration and Production rights are required to diligently seek and develop associations, affiliations, joint ventures and other forms of partnership and or co-operation in order to promote the rapid growth of an Iraqi private sector capable of assisting and enhancing Petroleum Operations to the mutual benefit of the said holders and the nation.

Getenergy is working to engage a significant delegation of Iraqi ministry figures in our next global event. We will be preparing a detailed programme to run at the event called “E&T – the key for Iraq.” Watch this space for more details.