Iraq

Candidate country Hidden:  Not Hidden Iraq's EITI Website Overview of the Extractive Industries At the end of 2008, Iraq had 115 billion barrels of proven oil reserves, making it the country with the third largest reserves in the world with 11% of the world’s total proven oil reserves. The country also has over 3 trillion cubic meters of gas reserves. The oil and gas sector accounts for two-thirds of Iraq's GDP and over 90% of its public revenues. Status of EITI Implementation Iraq was accepted as an EITI Candidate country by the Board on 10 February 2010. It has until 9 August 2012 to undergo EITI Validation. On 23 December 2011, Iraq published its first EITI Report, which disclosed that it received US$ 41 billion in revenue from oil and gas exports in 2009. The report also includes detailed production figures. Oil and gas in Iraq is 100% state-owned. The EITI in Iraq has therefore focused at first on disclosing the revenues from oil export sales and reconciling these revenues with the figures that international oil buyers report to have paid for the oil. In the future, it is planned that the scope will include domestic sales, signature bonuses and non-cash oil exports. Governance of EITI implementation A National Secretariat has been established within the Inspector General's Office at the Ministry of Electricity. Seven persons will work at the Secretariat which is headed by the Inspector General, Mr Alaa El-Deen. The multi-stakeholder Iraqi Stakeholders Council has twenty representatives including the IEITI Chair, the Secretary of the IEITI, three government representatives, three international oil company representatives, three national oil company representatives, three civil society organisations, three ‘monitoring’ agencies, and three trade union representatives. IEITI Chairperson The General Secretary of the Iraq Council of Ministers, Hon Ali Al-Allaq has been appointed as the IEITI Chair. IEITI National Coordinator The Inspector General in the Ministry of Electricity, Mr Alaa El-Deen has been appointed as the head of the IEITI Secretariat and will provide the day-to-day support to the EITI process in Iraq. Mr Alaa El-DeenInspector GeneralMinistry of ElectricityE-mail: aldeen57 [at] msn [dot] com   Companies operating* International oil & gas companies: BP*, CNPC, ENI*, Exxon*, Gazprom, Japex, Kogas, Lukoil, Occidental, Petronas, Shell*, Sonangol, Statoil*, Total*, TPAO. State-owned oil & gas companies: North Oil Company, South Oil Company, Maysan Oil Company, Midland Oil Company, Iraqi Oil Exploration Company. *EITI Supporting company * Note: Company list based on EITI research and is not conclusive

As we approach half-way through 2010, it is proving to be as momentous for the EITI as expected. Although most of the 22 first EITI countries did not complete the validation of their EITI processes by their deadlines, eyes are now turned towards those granted short extensions to complete by September. Countries’ efforts to meet the deadlines have led to an unprecedented level of activity to improve transparency in the extractives sector. In the past 12 months, 18 countries have produced EITI Reports. File:  EITI-Newsletter-2010-July.pdf

At the Iraq Compact Review Conference 29 May 2008, Iraqi Deputy Prime Minister Barham Salih said: "The Government has also committed to join the Extractive Industries Transparency Initiative (EITI)." Jonas Moberg, Head of the EITI International Secretariat, welcomed Iraq's commitment to implement the Extractive Industries Transparency Initiative, and made the following statement:

The Government of Iraq has formally committed to implement the EITI making it the single largest country in terms of proven oil reserves (11% of world’s resources) to do so.