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[size=38]An international company: Baghdad may pay billions of dollars in compensation to oil companies[/size]
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Baghdad / Obelisk: Gibson Dunn, the American international legal company, announced, 07/16/2022, in a comment on the problems between the Iraqi Ministry of Oil and oil companies operating in the Kurdistan region, that these companies can file cases in international courts, and demand tens of billions in compensation from the government. Iraq, if the latter insists on its efforts to cancel its contracts in the Kurdistan region.
The company said in a statement, that taking into account the articles of the Iraqi constitution and the oil and gas law in the Kurdistan region, the file of oil companies operating in the Kurdistan region is strong, to the extent that it allows them to file cases against the Iraqi government.
In her comment, Gibson Dunn stressed that the Iraqi government will face major legal problems, and will have to pay billions of dollars in compensation.
The company added that the Kurdistan region is part of Iraq in all circumstances, and Iraq must abide by international laws, especially since the Iraqi Ministry of Oil has become a threat to the work environment of oil companies in the Kurdistan region.
The company indicated that the Iraqi Oil Ministry's steps contradict international laws and the decisions of the Organization of the Islamic Conference, of which Iraq is a member, stressing the need for the Iraqi government to commit to guaranteeing the rights of foreign investors.
The crisis over oil between the federal governments in Baghdad and the Kurdistan region reached advanced stages of complexity, with the Kurdish Judicial Council declaring the Federal Court unconstitutional.
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