The Legal Structure of the Kurdistan Exploration and Production Company (KEPCO) -Analytical Comparative Study

Volume 22 , Issue 1 , January 2021 , Pages 677-690

Authors

Awara Azad Ahmed 1 ; Arez Mohammed Sediq 1

1 Department of Law, College of Law, University of Sulaimani

DOI logo 10.17656/jzsb.11062

Keywords

Abstract

Like other oil rich countries, Kurdistan Exploration and Production Company (KEPCO) is one of
the state-owned companies (run by Kurdistan Regional Government), along three others, to be
established as according to Oil and Gas Law No. 22 of 2007 which is operating and managing oil
sector in Iraqi Kurdistan Region. These companies have a great role in developing oil sector,
especially KEPCO with is designated to work in exploration and producing oil in the region and other
parts of Iraq. In the absence of other state-owned companies in the region, KEPCO and others are
considered a new form of companies in the region. The worthiness and legal framework of KEPCO
is the subject of this paper. While having this sort of companies in the region is considered an ultimate
benefit and leverage for the region, the current applicable regulation in the region have many
loopholes and do not answer or address upcoming questions. Therefore, it is recommended to issue
another law in the region same as Iraqi Federal law no. 4 of 2018 to include all necessary rules
regarding establishment, organization, capital and assets, and converting ownership of the company
from state into a publicly held company. In doing so, the experience of Iraq (federal government) and
other oil rich countries such as Saudi Arabia can be taken into scrutiny. 

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  • First online25 January 2021
  • Published at25 January 2021

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