However, there are indications that a number of large Iraqi private investors would be interested in becoming partners with Hunt Oil in the Kurdistan Region with the aim of using the partnership as a vehicle to expand into the oil rich areas near Basra in southern Iraq.
“We Iraqis are being penalized by the government and a tie up with Hunt could make winning concessions much easier,” an executive with one of the largest Iraqi family conglomerates said.
The KRG’s Mr. Bakir expressed a great deal of enthusiasm for the idea of foreign companies making investments in local businesses, in the energy sector and elsewhere. “The Kurdistan Region is open to foreign investors and could become the hub for companies looking to expand throughout Iraq,” he said. “We want to create an environment where private investment can come in and develop our industries.”
Ray Hunt argued that free trade between nations and free markets are a powerful force for development, communication and understanding between nations.
Comments are closed.