Different Iraqi officials attended the conference and discussed present drawbacks in Iraq which are restricting oil production. The country has better chances of development as more than $36 billion oil, energy, water and petrochemical contracts were given since 2008.
Around $200 billion will be invested by Iraq for oil exploration, as anticipated by the experts. In coming 6 years, 20 billion USD will be invested by the country for distribution of oil and refining the crudes. Iraqi budget is reliant upon oil revenues by more than 90 percent. 138 trillion Iraqi dinars will be reached by Iraq in this year’s budget.