Iraq: Law for the Allocation of Oil Exploitation Areas to the Iraqi National Oil Company
![handle is hein.journals/intlm6 and id is 1176 raw text is: 1162
IRAQ LAW CONCERNING ALLOCATION OF OIL EXPLOITATION AREAS*
Law No. 97 of 1967
For the Allocation of Oil Exploitation
Areas to the Iraqi National Oil Company
In the name of the People,
The Presidency of the Republic.
In pursuance of the provisions of Article 44 of the Interim Constitution,
and upon the proposal of the Minister of Oil as approved by the Council of Min-
isters, the following Law is ratified:
Article 1
1. There shall be allocated and granted to the Iraqi National Oil Com-
pany under the provisions of this Law the exclusive rights to exploit
oil and hydrocarbon substances in all Iraqi lands including Territorial
Waters and Continental Shelf and Iraqi interests in the Neutral Zone.
INOC may exercise therein all the operations prescribed in Law Estab-
lishing the Iraqi National Oil Company No. 11 of 1964 and its amend-
ments.
2. The provision of the foregoing paragraph shall not cover those areas
specified under Article 2 of Law Specifying the Exploitation Areas for
the Oil Company (sic - Companies) No. 80 of 1961.
Article 2
The provisions of Article 3 of Law No. 80 of 1961 shall not be applicable
to the following:
1. Those areas in which INOC starts exploitation operations.
2. Any area in which a Field or part of a Field is situated and in which
oil has been discovered.
Article 3
1. All the oil areas allocated under Article 1 of this Law to INOC shall
be exploited directly by it.
2. INOC may exploit any of the areas allocated to it by way of partnership
with others if it finds this better for the realization of its purposes.
In this case the conclusion of a Contract in this respect shall not be
effected except by Law.
3. In all cases it shall not be permissible for INOC to exploit oil in
all the areas allocated to it by way of a concession or by what amounts
virtually to a concession.
4. Contracts concluded by INOC under para 2 of this Article shall in no
way affect the public ownership of Oil and Hydrocarbon substances under
the surface. It shall also not be permissible to create any principal
or accessory right thereon.
*[Reprinted from an unofficial translation provided by the Office of Fuels
and Energy, U.S. Department of State. The official text is published in
Wacraveh Al-Iragiyeh No. 1445 (September 7, 1967) .]](ViewImageLocal?handle=hein.journals/intlm6&div=141&collection=&method=preview&ext=.png&size=3)
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Iraq: Law for the Allocation of Oil Exploitation Areas to the Iraqi National Oil Company
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