ar032
07-17-2007, 05:03 PM
AMMAN -(Dow Jones)- Prominent former Iraqi oil officials and technocrats Tuesday urged Iraqi lawmakers to amend the country's controversial hydrocarbons law that was submitted to them by the federal government in Baghdad earlier this month.
"We emphasize the importance of acting steadily and not rushing its (draft law) issuance before enriching it with more discussions and carrying out amendments," more than 100 Iraq oil, law and economic experts said in an open letter sent to the parliament, a copy of which was seen by Dow Jones Newswires.
"We turn towards you to extend your utmost efforts to enrich the law with further study and discussions and to remove and remedy the sources of faults in it," said the letter signed by former Iraqi oil ministers and senior oil ministry officials, who have fled the country's chaos but continue to hold some influence in Iraq's oil industry.
The central government in Baghdad approved July 3 the bill and referred it to the country's parliament for final approval. The parliament was expected to start debating the law this week, but a last-minute rejection of an amended version of the law by the Kurds in northern Iraq could delay that process.
These oil experts also believe that debate on the draft oil and gas law should be postponed until the parliament finishes amendments on the country's constitution that was adopted in 2005. Such new amendments to the constitution are under debate in the legislature.
They also recommended that large contracts to develop Iraq's vast oil fields should be referred to lawmakers for debate and approval. Under the new bill, parliament doesn't need to approve such contracts signed with these companies.
They called on lawmakers to debate the four annexes attached to the draft legislation together with the bill. These annexes list specific oil fields that could be open to foreign companies.
According to a version of the law that was issued in February, that was later amended, those fields that are already producing oil, or those fields that are nearly developed are to be set aside for a new state-run oil company that could develop these fields on its own or by entering into joint ventures. The Kurds disagree with these annexes, saying that the Kurdistan region should be given more say on these fields because of their location.
The Baghdad government, when it passed and submitted the draft legislation earlier this month to parliament, said that these annexes would be determined by a yet-to-be-created federal oil and gas council, after lawmakers approve the oil and gas law.
Because of escalating sectarian violence and political polarization, these former officials and technocrats fear rushing through a petroleum law could further enrich "the situation of divisions, anarchy and chaos."
These experts held a symposium in Amman in February and issued a set of recommendations urging the government and the parliament to postpone the enactment of the law until the security situation improves. Their remarks were widely supported by many Iraqi lawmakers and even government officials.
http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20070717\ACQDJON200707170636D OWJONESDJONLINE000193.htm&selected=9999&selecteddisplaysymbol=9999&StoryTargetFrame=_top&mkt=WORLD&chk=unchecked&lang=&link=&headlinereturnpage=http://www.international.na
"We emphasize the importance of acting steadily and not rushing its (draft law) issuance before enriching it with more discussions and carrying out amendments," more than 100 Iraq oil, law and economic experts said in an open letter sent to the parliament, a copy of which was seen by Dow Jones Newswires.
"We turn towards you to extend your utmost efforts to enrich the law with further study and discussions and to remove and remedy the sources of faults in it," said the letter signed by former Iraqi oil ministers and senior oil ministry officials, who have fled the country's chaos but continue to hold some influence in Iraq's oil industry.
The central government in Baghdad approved July 3 the bill and referred it to the country's parliament for final approval. The parliament was expected to start debating the law this week, but a last-minute rejection of an amended version of the law by the Kurds in northern Iraq could delay that process.
These oil experts also believe that debate on the draft oil and gas law should be postponed until the parliament finishes amendments on the country's constitution that was adopted in 2005. Such new amendments to the constitution are under debate in the legislature.
They also recommended that large contracts to develop Iraq's vast oil fields should be referred to lawmakers for debate and approval. Under the new bill, parliament doesn't need to approve such contracts signed with these companies.
They called on lawmakers to debate the four annexes attached to the draft legislation together with the bill. These annexes list specific oil fields that could be open to foreign companies.
According to a version of the law that was issued in February, that was later amended, those fields that are already producing oil, or those fields that are nearly developed are to be set aside for a new state-run oil company that could develop these fields on its own or by entering into joint ventures. The Kurds disagree with these annexes, saying that the Kurdistan region should be given more say on these fields because of their location.
The Baghdad government, when it passed and submitted the draft legislation earlier this month to parliament, said that these annexes would be determined by a yet-to-be-created federal oil and gas council, after lawmakers approve the oil and gas law.
Because of escalating sectarian violence and political polarization, these former officials and technocrats fear rushing through a petroleum law could further enrich "the situation of divisions, anarchy and chaos."
These experts held a symposium in Amman in February and issued a set of recommendations urging the government and the parliament to postpone the enactment of the law until the security situation improves. Their remarks were widely supported by many Iraqi lawmakers and even government officials.
http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20070717\ACQDJON200707170636D OWJONESDJONLINE000193.htm&selected=9999&selecteddisplaysymbol=9999&StoryTargetFrame=_top&mkt=WORLD&chk=unchecked&lang=&link=&headlinereturnpage=http://www.international.na