Middle East Economic Survey

VOL. LI

No 12

24-March-2008

IRAQ

KRG Modifies Contract Terms For Tawke, Taq Taq Operators

The Kurdistan Regional Government (KRG) has brought upstream contracts with both Norways DNO and a consortium led by Turkeys Genel Enerji in line with its new hydrocarbon law and model contract. The changes, mandated by Article 54 of the KRG oil law, include standardization of terms across various blocks and the introduction of an R-Factor, which will adjust returns to investors and...