For anyone who still might think that the Iraq invasion and occupation is not all about oil, a recently leaked contract, published by oil industry watchdog PLATFORM, exposes BP’s new 20-year “deal” to control Iraq’s largest oil field, which produces about half of Iraq’s total oil output.
The key part of the contract, which was unknown until this leak, reveals that BP will still get paid even if there is any disruption in the very ambitious level of output they have called for, some 3 million barrels per day within the next three years.
As the contract reads, “the parties shall agree in good faith a mechanism to fully compensate [BP] contractor as soon as practicable, which may include, among other things, a revised field production schedule or an extension to the term or payment of lost income in respect of the estimated volumes not produced during the period.”





