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Using a combination of th local-density approximtion (LDA) and dynamiclamean-field theory (DMFT) calculations, we explore the correlated electronicstructure of a member of the layered Iron oxychalcogenide Na_{2}Fe_{2}OSe_{2}.We find that the parent compund is a multi-orbital Mott insulator.Surprisingly, and somewhat reminiscent of the doped high-T_{c} cuprates,carrier localization is found to persist upon weak hole doping because thechemical potential lies in a gap structure wit almost vanishingdensity-of-states (DOS). On the other hand, in remarkable contrast, electrondoping drives an orbital-selective metallic phase (OSMP) with co-existingpseudogapped (Mott localized) and itinerant carriers. These remarkablycontrasting behaviors in a single system thus stem from drastic electronicreconstruction caused by large-scale transfe of dynamical spectralweightinvolving states with distinct orbital character at low energies, puttingthe Fe oxychalcogenidesneatly into the increasingly visible tendency of Fe-baedsystems as ones in orbital-selective Mott phases. We detail the implications ofour analysis, and discuss the nature and symmetry of the superconductive statesthat may arise upon proper doping or pressurizing Na_{2}Fe_{2}OSe_{2}.

Orbital-Selective Mottness in Layered Iron Oxychalcogenides: The Case of Na_{2}Fe_{2}OSe_{2}