After years of war, oppression, and uncertainty, Iraqi Kurds have reason for optimism. Under monarchy, republic, and the Baath dictatorship, the central government in Baghdad at best ignored and more often sought to undermine Iraqi Kurdistan's development. While rumors swirled for decades about oil deposits under Iraqi Kurdistan, Iraqi policy and international sanctions prevented its exploitation.
No longer: despite disputes with Baghdad, the Kurdistan Regional Government has sold international companies rights for exploitation and development of the region's petroleum resources. There are more than 40 different oil companies from more than a dozen countries operating in Iraqi Kurdistan. A few companies already produce oil. Many others are on the verge, having completed both exploration and the digging of test wells.
No longer: despite disputes with Baghdad, the Kurdistan Regional Government has sold international companies rights for exploitation and development of the region's petroleum resources. There are more than 40 different oil companies from more than a dozen countries operating in Iraqi Kurdistan. A few companies already produce oil. Many others are on the verge, having completed both exploration and the digging of test wells.
