United Nations in Iraq approved priority law about oil and gas drilling

Baghdad said the UN Special Representative in Iraq Monday that the Iraqi Parliament passed a law on oil and gas exploration is one of the priorities of the international organization which formed a team to follow up on this file.

The Act is designed to regulate the oil sector in Iraq and establish rules for revenue sharing between the Central Government and the provinces still include Parliament years ago. The Special Representative said Martin Kobler told AFP that “a team from the United Nations Assistance Mission for Iraq working on this file.”

“We want to start a debate on revenue sharing and then proceed to act on oil and gas. This law is an important starting point for addressing major problems such as the relationship between Arabs and Kurds and the issue of federalism. I can say that key. This will allow the base “to address these problems. He Kobler “in addition, this country needs a security for investments. To resolve the issue of disputed internal boundaries, with some of the largest untapped oil fields would be easier if everyone knew how revenue sharing. “

And diplomats and analysts said the dispute between the Kurdistan region in northern Iraq and the Central Government in Baghdad about Kirkuk, power-sharing and oil revenues is one of the biggest threats to the country’s stability in the long term. And also two occurs Kobler other election of a new Committee to organize the local elections scheduled for next year and a federal constitutional moment.

Iraq has the third largest of the world’s oil is estimated at 143 billion barrels after Saudi Arabia and Iran. Oil revenues constitute 94 percent of revenue.