A lot of development projects have started in Iraq. In all the sectors especially in the oil field. The revenue generated by the oil sales is the 93% of the total budgeted revenue in 2013. So many multinational companies have done oil agreements with Iraq government. On the other hand, the Iraq government is busy in adding more and more development projects for the restoration of infrastructure, minimizing unemployment, providing basic necessities to their citizens and enhancing the living standards of their people.
Fox Business reported on the 12th April 2013 that a housing project for workers in the Zubair oil field was in progress these days. According to the contract $358 million will be invested to lay pipelines at Zubair Oil Fields.
The Iraq Business News reported that a housing colony for the workers is included in the project. The reporter John Lee told that the approved companies will complete this project in 30 months’ time frame.
He added that in September last year, Iraq Cabinet approved a contract of $358.8 million and the companies who won that agreement were Italy`s SICIM and Dubai` Drake and Scull.
Like Jordan, Egypt, UAE and some Asian countries, Italy have also shown its interest in Iraq which is going through the period of reconstruction of infrastructure, restoration of business relations with the rest of the world and exploring new oil fields in the country. For these purposes, technical support is being brought into the country. Keeping these improvements in mind, one could anticipate that future of Iraq is extremely bright.