Iraq Law Concerning Allocation of Oil Exploitation Areas

In: International legal materials: ILM, Band 6, Heft 6, S. 1162-1163

Abstract

There shall be allocated and granted to the Iraqi National Oil Company 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 Establishing the Iraqi National Oil Company No. 11 of 1964 and its amendments. 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.