ISSN: 1817-5880

Keywords : Social Benefits


The Actual Social Benefits of Oil Companies and their Horizons in the Shadow of the Transparency Initiative for the Extractive Industries in Iraq

Assist. Prof. Dr. Haitham Abdullah Salman

Gulf Economist, Volume 32, Issue 27, Pages 114-131

Presenting the social benefits by the oil companies whether national or foreign, is considered one of the main requirements for signing the petroleum contracts in Iraq. According to the current law, the social services must be presented to the geographical region where the project is erected in an efficient and transparent manner and within the specifications and conditions of signing the contract. But, these social services might be infiltrated by some social and economic mishaps that may accompany the signing of those contracts. Specifically, within the shadow of following of the transparency initiative of the oil exploration industries, sometimes, a contract is signed to install an oil service project in a certain area within the Iraqi borders, but, un fortunately, the feasibility study is being ignored for the proposal: " The social costs are not being evaluated accurately, which allow the allows the introduction of loop holes for the administrative corruption and financial waste; Then, it will not be possible to carry out the process of matching the benefits with the actual costs".
This paper has managed to achieve the main conclusion that is the agreement between the research proposal with the actual economic social costs.