Oil and Gas Services Sector in Iraqi Kurdistan

Imran Khan, Director of Falcon Oil and Gas services talks about the oil and gas service sector in Iraqi Kurdistan.

He says, “as you can see, there is a lot of investment going on now in Kurdistan and the major investment is in the oil and gas sector. Oil and gas is the future of Kurdistan. We therefore believed that we had to start something in oil and gas. We looked at different sectors, there are upstream and downstream opportunities, there are opportunities in the services sector as well as other areas of the oil and gas sector. We believe that this is the time to join in for the future of Kurdistan. Oil and gas will be a major sector for the economy of Kurdistan and will do a lot for the prosperity of the people.”

The size of the sector, estimated to be worth billions of U.S. dollars, is offering lucrative investment opportunities for the local oil and gas service companies. Already, more than 100 companies are offering various services in the field and the multinationals are arriving at the stage.

The strategy of Falcon Oil and Gas is not to compete with the industry heavyweights, but to grow. However, Khan does not exclude the possibility of competing against big companies in 5 years. After, all the goal for Falcon Oil and Gas is to become the leading oil and gas service company in Iraqi Kurdistan.