Problems of Investment Guarantees in Oil Service Contracts A Comparative Analytical Study in Light of the Oil Tenders Contracts

Doi:https://doi.org/10.37940/JRLS.2023.4.2.2

Abstract

First of all, the foreign investment in the oil sector is a complex process undertaken by major foreign oil companies, in which capital, technical expertise and modern technology are transferred across countries; therefore it is mainly related to the degree of legal protection through guarantees that address the protection of foreign investments. Due to this type of investment is accompanied by with great risks at the economic, financial and legal levels, it would be normal that large part of the content of the contract to focus on the guarantees that are agreed upon by the two contracting parties, and are activated during the period of force and validity of the contract. Therefore, the problematic of the study is about the effectiveness of the oil investment guarantees included in the oil tenders contracts, in order to regulate the oil investment process in Iraq, and to demonstrate its effectiveness within the framework of the Iraqi legislative system.