Research Article | Open Access
OilRevenue Distribution between Iraqi-Kurdistan Region and International Oil Companies
KayfiMaghdid , Hemdad Faisal Ahmad and KarwanDhahir Saber
Pages: 1357-1362
Abstract
This study seeks to critically examine the role of oil and gas in the economic development of the Kurdistan Region of Iraq (hereafter KRI) and its future implications. This study goes on to discuss options for using and managing oil income in KRI, starting with the point at which oil revenues begin to flow to the government. Discuss how resource earnings are spent in practice, drawing on
worldwide experience, and how they could be better used to benefit the population who ultimately own them.In comparison to other developing countries, the Kurdistan area PSC appears to be more beneficial to the International Oil Company (IOC). As a result, a strategy for dealing with the challenges that may
occur as a result of revenue in KRI's PSCs should be devised. Desk research, which included a study of published literature, was used as part of the technique. The report established plausible conclusions about oil income and fiscal regimes for the two countries based on the comparative analysis and presented some recommendations for upcoming oil contracts in Iraq's Kurdistan Region.
Keywords
KRI, Oil Revenue, Distribution , Oilprice volatility, Gross domestic products, Economic growth