Oil Companies in Erbil - The Most Promising Sector in Iraqi Kurdistan

After years of war, mass killings, poverty, and suffering, the Kurdistan region in northern Iraq seems to have left the difficult times behind, has turned over a new leaf and looks ahead to a brighter, more promising and more prosperous future. Among the most important contributing factors for economic growth are the 45 gas and oil companies in Erbil, the capital of the autonomous Iraqi Kurdistan.

The region has always been known for its rich oil and gas resources, but during the Saddam Hussein dictatorship the Kurdish people had never enjoyed the financial benefits from the wealth of their homeland. Instead, wars and unfair attacks had forced a large number of Kurds to seek refuge to neighboring or far away countries.

During the last decade, and after the end of the dictatorship, the Regional Kurdistan Government has been successful in attracting significant foreign investments in the oil industry, which has formed the basis for further financial development in sectors such as construction of luxury accommodation, hotels, retail, telecommunications and entertainment.

Gas and Oil Companies in Erbil

According to existing listings in Erbil company directories, there are currently 45 oil and gas companies in the city which can secure a substantial income for the region. Moreover, by building local refineries, the Kurdistan Regional Government has managed to cover the needs of the local people and local industries for different kinds of fuel, which further contributes to the growth of the economy of the region.

Today the ten most active oil companies in Erbil are: Exxon Mobil, Chevron, Total, Genel Energy, DNO, Gulf Keystone Petroleum LTD, OMV, DNO, HESS, and Oryx Petroleum. According to the Annual Financial Report of the Kurdish Ministry of Natural Resources, the contracts signed with several international oil companies concerning the production of oil and the selling of different refined products have been quite profitable in 2013. According to the Ministry, between 2007 and 2013 a profit of approximately 6 billion US dollars has helped cover the costs of a large number of projects in the Kurdistan region. At the same time, because of the region’s internal consumption rights, the local population has greatly benefitted from funding the provision of electricity and fresh water, the building of new schools, universities and hospitals in the region, improving and expanding the road system and assisting various projects in tourism and agriculture.

Untapped Oil Reserves
It has been estimated that the Iraqi Kurdistan has vast untapped oil reserves that can be in the range of more than 50 billion barrels. This could be a huge source of income for the region and a challenge for more foreign companies to invest in the gas and oil business despite the ongoing disputes between the Central Iraqi Government and the Kurdistan Regional Authority over the use of a new pipeline that carries and sells oil to Turkey without Baghdad’s consent. The pipeline extends from the Taq Taq oil field about 85 km from Erbil to the Ceyhan port in the south coast of Turkey.  Exports will gradually increase, but at the moment the crude oil will be kept in tanks in the Ceyhan port until a total capacity of 2.5 million barrels is reached. Then it will be sent to the Turkish Tupras refinery before it is exported to the international markets. This is a massive project of paramount financial importance for the Kurdistan region because it will show that Kurdistan will be able to prove its place in the Middle East and secure the peace and welfare of its inhabitants.

A Bright Future for the Young Kurds
As new financial opportunities appear, more and more young people will turn to higher education to get all the necessary qualifications in order to enter the competitive market of the numerous technology and oil companies in Erbil and in the extended Kurdistan region. At the same time the financial growth of the region will promote new advancements in all fields of science and improvements in the existing infrastructure of the area. Iraqi Kurdistan is a land of a promising bright future which can become a hub for business, education, tourism and personal development for all its inhabitants – and not only.

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The Best Hospitals in Kurdistan Iraq

There are a large number of public and private hospitals in Kurdistan, Iraq, as the Kurdistan Regional Government is supportive to most healthcare projects in the region, but the latest addition to the existing hospitals made everyone really proud.

The Kurdistan Children’s Hospital (KCH) was opened in March 2014 and it was accepted with a sigh of relief by the inhabitants of the autonomous Kurdistan region in Iraq. Up to now, the lack of such a hospital posed a threat to the lives of children who were seriously ill or those who had to deal with a life-threatening accident.
 
The hospital has 120 beds, accommodation facilities for parents and staff, and it provides high-standard healthcare with prominent pediatricians who have come to Erbil from international hospitals. It includes an intensive-care unit for newborn babies, an outpatient clinic, a clinic for emergencies, three operating theaters and a women’s hospital.

The Children’s Hospital, which was the dream of Dr. Shawis, belongs to and is operated by a UK-based charity organization, while substantial funding was received by the Oryx Petroleum Corporation according to the contract they had signed with the Kurdish Government.

Other hospitals in Kurdistan

•  Rezgary Hospital in Koya Street, Erbil. It was opened in 1984 and provided its much-needed healthcare services during the tough times of wars and social unrest. Today, it has 493 beds, a wide range of health departments, 12 operating theaters, and patients benefit from excellent medical services round the clock.

•  Erbil Emergency Hospital in 100m Street, Erbil. This is a new, modern hospital which was inaugurated on 15th March 2011 and provides emergency services to the inhabitants of the west part of the city. It has 170 beds, it is built on a total area of 40,000 square meters and treats all kind of emergencies such as injuries and burns. It is equipped with cutting-edge medical equipment and its staff is highly trained. Half of its $22 million cost was covered by the US Reconstruction Team and half by the Kurdistan Regional Government.

•  Shar Hospital is one of the largest hospitals in Kurdistan and is located in Malik Mahmoud Street in Sulaymaniyah, the 2nd largest city in the region. It is built on a 53-acre plot of land and it has 400 beds and 12 operating theaters. It cost $135 million, comprises all major medical departments and provides international-standard services.

•  Harem Hospital is a private hospital and is also located in Malik Mahmoud Street in Sulaymaniyah and it offers departments in Obstetrics and Gynecology, Cardiology and Urology. It has 70 beds and accepts patients from all nearby towns and villages.

•  Azadi Teaching Hospital in Nakhoshkhana Road in Duhok is the only general hospital in the Duhok governorate at the moment. It is a large hospital that can accommodate 750 patients and it has all major departments including Cardiology, Obstetrics and Gynecology, Psychiatric, and an Emergency Department. The hospital has 373 doctors and 915 people of medical staff.

•  Faruk Medical City is one of its kind! It is located in Sulaymaniyah and is the combination of a top-class hospital and a 5-star hotel. It has 210 beds in 53 clinics, the newest medical equipment, and the most qualified staff available. It was built by Faruk Mustafa Rassool, one of the richest businessmen in Iraq, whose vision was to bring a major change in the health sector. The FMC patients can choose a room with sitting and dining area, one of the 21 luxury suites, or one of the three presidential suites. The hospital has 120 doctors and 400 highly-trained nurses who are there for the patients 24/7.  Next to the hospital, there is a luxury hotel to accommodate the relatives who accompany the patients.

Faruk Medical City is the best of the existing hospitals in Kurdistan, but unfortunately it is only affordable to the very rich. Who knows, one day all hospitals may be like this…

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