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LONDON, Dec. 17 (UPI) -- Developing the oil export potential in the Kurdish region of Iraq will help secure the future of a united country, the British energy minister said Wednesday.

Iraqi, Kurdish and other regional players gathered in London for an investment conference, two weeks after agreements in Iraq ended long-standing disputes over who has what level of control over the nation's oil sector.

British Energy Minister Matthew Hancock said investors need to stand by Iraq now that security and the political climate have improved. By 2040, he said, Iraqi crude oil production could triple to just over 8 million barrels per day.

"Reserves in Kurdistan play a significant role in this increase," he said. "Development and export opportunities in the Kurdistan region will play a very important role in the future energy sector of a united Iraq."

Gulf Keystone Petroleum, an energy company with headquarters in London, announced this week it linked oil wells in the Shaikan field to production facilities in the Kurdish north of Iraq.

With its partners at Hungarian energy company MOL, the company said the addition should increase total regional production from a combined average of 24,000 barrels of oil equivalent per day to 40,000 boepd.

Both companies said crude oil taken from the Shaikan reserve area was making its way to the export market from the Turkish coast.

Exports of Kurdish oil have sparked legal battles between the semiautonomous Kurdistan Regional Government and the central government in Baghdad. KRG under the terms of the agreement funnels 250,000 barrels of oil per day to Baghdad and agrees to use the federal State Oil Marketing Organization for sales.

Security threats posed by the group calling itself the Islamic State and the collapse in crude oil prices may dampen expectations in the Iraqi oil sector short term.

"All parts of the country and population must see investment and the right conditions for prosperity, creating a vibrant private sector," the British official said. "Iraq's economic development will be vital for its political future and stability."

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Kurdish oil vital for Iraq, London says

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Outgoing Attorney General Eric Holder gave what reads like an exit interview to MSNBC's Joy-Ann Reid for New York magazine. Always blunt, Holder doesn't disappoint in this interview, giving America an "F" on matters of race -- as in "failed."

Reid flashed back to 15 years ago when Holder, then deputy attorney general, said that "there was a sense of mistrust between black communities and police that needed to be bridged" after another high-profile police brutality case.

Sound familiar? Sure does.

Reid: What does it say that we essentially are in the same place now, so many years later?

Holder: It means that we, as a nation, have failed. It's as simple as that. We have failed. We have understood that these issues have existed long before even that 2001 memorandum by that then-young deputy attorney general. These are issues that we've been dealing with for generations.

And it's why we have to seize this opportunity that we now have. We have a moment in time that we can, perhaps, come up with some meaningful change. It's what I'm committed to doing, even in the limited time I have left as attorney general. And I'll certainly continue to do it after I leave office.

It's what this administration is committed to. But I also feel that the nation is really ready for this kind of change. And I would hope that, 10 years from now, 12 years from now, we will not look back on this as a lost opportunity.

I think, in particular, what happened in New York with the whole Garner matter which I can't really get into, because it's something that we are still in the process of investigating has galvanized the nation. And I think that we have to take advantage of this spirit, this feeling that exists now in our country, and make it better.

Holder, of course, has only a few weeks left on the job, with Loretta Lynch his likely replacement. He has been traveling across the country takingmeetings on race relations and the criminal justice system. Holder said his proudest achievement is the Smart on Crime initiative--a move to ease mandatory sentencing and mass incarceration.

In her confirmation hearings, Lynch will certainly be grilled on her record, but also on Holder's record and rhetoric and whether she would be a similar attorney general. Civil rights leaders and activists have applauded Holder for his bold rhetoric,casting him as "Obama's Luther." On that score Lynch, should she be confirmed, would step into the job with big expectations, with fired-up activists looking to her to continue on Holder's path.

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The Fix: Eric Holder sets high bar on racial rhetoric for next attorney general