The Consul General added, “The UAE will continue to bolster its presence in the Region. We will increase the number of flights, and the Abu Dhabi Islamic Bank will open in the near future. Large Emirati companies, such as Taqa and Maydan for housing and construction, as well as a number of state-owned companies will begin work here after the requisite legal procedures are finalized.”
Mr Rashid Al-Jarwan, Executive Director and Board Member of Dana Gas, told KRG.org that Dana Gas has been able to extract more than 100 million barrels of oil suitable for local consumption since it began operations in Kurdistan in 2007.
He added that Dana Gas extracted more than 340 million cubic feet of natural gas in the Khormor field. The gas has been used to generate electricity through a 180-kilometre pipeline, and the Kurdistan Region currently produces 1600 megawatts of electricity per day from this supply of gas.
Al-Jarwan said that Dana Gas remains committed to its production level targets and hopes to increase those levels in the coming years. He added that TradeUAE Iraq 2014 provides opportunities for large Emirati companies to contribute to the successful implementation of projects in Kurdistan, which will also enhance the confidence of new investors.
He stated that disputes between Baghdad and Erbil have not affected the UAE’s economic activities in the Kurdistan Region, and that the UAE plans to increase its trade volume with Iraq and with the Kurdistan Region in particular.
The conference was attended by Head of the KRG Department of Foreign Relations Minister Falah Mustafa, Governor of Erbil Nawzad Hadi, President of the Kurdistan Region Chambers of Commerce Dara Khayat, UAE Deputy Minister of Economy and Trade Abdullah Saleh, UAE Consul General Rashid al-Mansouri, and a number of KRG and UAE government officials and private sector representatives.