Annual oil conference in London

5th Edition of the annual Kurdistan-Iraq Oil & Gas Conference & Exhibition has just come to an end. Another time the event was held in London. The main organizer was Kurdistan Regional Government Ministry of Natural Resources. In the conference took part representatives of the highest KRG authorities, British politicians and giants of the international oil industry.

The conference was a great opportunity to present potential and investment opportunities in Kurdish oil industry. It was also the showcase of the newest trends and technologies in that sector of the economy.

One of the most important events at the Kurdistan-Iraq Oil & Gas Conference & Exhibition was a speech given by KRG deputy prime minister Qubad Talabani. He emphasized that

“Kurdistan has a lot to offer to international investors and the international community”. He also noticed frankly that Kurdistan Region is currently facing with difficulties. Deputy Prime minister defined it as a “triple shock”: the unjustifiable cutoff in fiscal transfers by the federal government of Iraq, invasion of ISIS and exodus of refugees that resulted in 30% increase of Kurdistan Region population and humanitarian crisis.

Qubad Talabani admitted that “The path forward will not be easy”. However, he also presented concrete plan how to overcome crisis. He finished his speech optimistically: “I would like to remind the people of Kurdistan that the generations of our parents fathers and grandparents grandfathers faced greater challenges than those we face today, and overcame them often with no friends but the mountains. Today, I can confidently say that we have more friends than the mountains. So we have no option but to succeed”.