The Kurdistan Regional Government has developed energy policies that are based on the Iraqi constitution.
Our overarching policies are to :
- Use natural resources wisely to benefit all the people of the Kurdistan Region and Iraq.
- Starting from having no hydrocarbons industry in 2005, rapidly develop a modern and competitive oil and gas sector that will become a pillar of the Kurdistan Region’s economy.
- Meet our domestic needs for energy, power and fuel.
- Increase exports, to contribute to higher revenues for Iraq and the Kurdistan Region.
- Achieve 90% localisation of the oil and gas workforce by 2016.
- Put the Kurdistan Region’s natural resources wealth at the service of the people, ensuring that it contributes to social capacity and infrastructure.
Some of the strategies that we are using to achieve these goals are:
- Become a reliable, stable and secure supplier of oil and gas to international markets.
- Attract experienced international companies to invest in the Kurdistan Region by offering tough but fair and highly transparent production sharing contracts.
- Work with the federal government to ensure that fair and transparent oil and gas and revenue-sharing laws for Iraq are passed as soon as possible.
- Ensure that the people of the Kurdistan Region have job opportunities in the oil and gas industry and Work with stakeholders to develop the local workforce’s skills.
- Develop downstream industries, including refining and power generation.
- Legally mandate that companies meet international petroleum industry standards of practice on the environment, and that they adhere to the Kurdistan Region’s laws to protect the environment.
- Mandate that companies make capacity-building payments to contribution to building our social capacity and infrastructure.