| |
| Executive Summary |
| |
PART I |
| World Oil and Natural Gas: Overview
& Trends |
Projected Energy Trends |
Demand |
| Supply |
| Forgotten Issues |
| The “Call” on the
Restricted Countries |
| Key Persian Gulf Producers |
| Prospects for Higher Output
in the Persian Gulf Region
|
| Analytical
Inattention to Oil Production |
| Issues
Common to OPEC Countries |
| Alternatives Confronting the Restricted
Countries |
| Reliance on National Resources |
| Inclusion of IOCs |
| Importance
of Rate of Return |
| Competition
for Capital |
| Importance
of Fiscal Terms |
| Technical
Aspects of Contractual Models |
| Potential Impact of IOC
Investment |
| IOC
Impact on Production Levels |
IOC
Impact on Market Management |
| |
PART II |
| Iran’s Petroleum Industry |
| Post-Nationalization Era |
| Constitutional Constraints
on Foreign Investment |
| New Energy Policy |
| Buyback Contracts |
| The
First Implemented Buyback Contract |
| The
1995 Buyback Tender |
| The
1998 Buyback Tender |
| The
“Discounted” Buyback |
| Azadegan
Agreement |
| Amended
Buyback Terms |
| Stalled
Buyback Projects |
| Buyback Approach: Evaluation
and Outlook |
| Iranian
Interests |
| IOC
Interests |
| Impact
on Iran’s Energy Strategy |
| Domestic
Political Opposition |
| Contractual
Issues |
| Energy Strategy |
| EPC Contracts |
| Projects
Restricted to EPC Contracts |
Projects
Open to Buybacks or EPCs |
| Caspian Sea Projects |
| Production Sharing Agreements |
| |
PART III |
| Iraq’s Petroleum Industry |
| The 1958 Revolution |
| The Saddam Era |
| Oil Policy Changes |
| Iraq’s Post-War
Offer: February 1990 |
| Iraq’s
Contractual Approach: September
1991 |
| Contract Negotiations:
May 1991 to July 2000 |
| Iraq’s New Approach:
July 2000 |
| Other Approaches |
| Impact of U.N. Sanctions |
| The “Oil-For-Food”
Program |
| Oil Smuggling |
| Possible Exemption for
Upstream Oil Investment |
| Post-Persian Gulf War
Iraq |
| The Social Divide |
| Changing of the Guards |
| The Regime Change |
| Post-U.N. Sanctions |
| Transition Era |
| Economic Perspectives |
| Federalist Model |
| Iraq's Petroleum Industry Perspectives |
| |
PART IV |
| Kuwait’s Petroleum Industry
|
| Offshore Development |
| Kuwaiti Concerns |
| Security
|
| Required
Technology |
| Natural
Gas Shortage |
| Economic
and Social Issues |
| New Energy Policy |
| Project Kuwait |
| Kuwait’s Contractual
Model: OSA |
| Kuwaiti
Interests |
| IOC
Interests |
| Implementation of Project
Kuwait |
| Progress
with IOCs |
| Opposition
in the National Assembly |
| Future Outlook |
| |
PART V |
| Saudi Arabia’s Petroleum
Industry |
| Neutral Zone |
| Plan to Maintain Sustainable
Spare Capacity |
| Saudi Oil Wealth |
| New Oil Policy - Clarity and Separation
of Roles |
| Saudi Gas Initiative |
| Core
Venture No. 1 (Ghawar
Project) |
| Core
Venture No. 2 (Red Sea
Project) |
| Core
Venture No. 3 (Shaybah
Project) |
| Production |
| Water
Desalination |
| Electricity
Generation |
| Petrochemicals |
| Summary
of Negotiations |
| Redesigning and Relaunching
of the SGI |
| Royal Succession |
Short-Term
Outlook |
| Post-Fahd Era |
| |
PART VI |
| Conclusion |
