ABSTRACT
Oil and gas are owned by all the people of Iraq in all the regions and governorates. Iraq is a unique environment for implementation of oil legislation due to the vast oil resources and political sensitivities in the country. When implementing a comprehensive legal framework, it is necessary to consider the practical environmental context for its operation in order to maximise the revenues for the reconstruction of the country and to allow the economy to prosper for the benefit of the Iraqi people. The political situation means that there are many disputes between parties on numerous issues including aspects of legislation and policy. The documented discussions in the constitutional and legislative drafting process assist in determining the intended interpretation of the legal framework. There are many issues to be considered to assist the Iraqi oil sector to be effectively managed to benefit its citizens and economy. The chapter also presents an overview of the key concepts discussed in this book.
