Weir Group


Weir signs $50m Contracts in Iraq

By John Lee.

Weir Oil & Gas Dubai has announced the signing of multi-year contracts in Iraq with two international oil companies totaling more than $50 million USD.

According to a press release from the company, the contracts secure the provision of Weir Oil & Gas workshop services and engineering support for an oil field and valve repair and maintenance services for another giant oil field, respectively.

Ronan Le Gloahec (pictured), EMEARC Managing Director for Weir Oil & Gas, said:

“We are pleased to support our clients through providing services, repairs and important upgrades while assisting them with engineer-driven change management protocols and production facility turnarounds.”

(Source: Weir)

HEESCO signs Contracts with 3 Int’l Firms

By John Lee.

Iraq’s Heavy Engineering Equipment State Company (HEESCO) has signed deals with three international companies in the oil, petrochemical and the marine industries:

  • UK-based Weir Engineering Services;
  • Czech-based KPS;
  • Egyptian-based Petrojet.

The company, established in 1963, has technological capabilities in the design, manufacturing and installation of the engineering equipment, such as the tanks, boilers, heat exchangers, pressure tanks, refining towers, bridge pillars, river boats and engineering inspection.

Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) said that the Ministry aims to increase cooperation with international companies.

(Source: Ministry of Oil)

Weir wins Maintenance Contract at Zubair Oilfield

Weir Oil & Gas Dubai has reportedly been awarded a contract with Eni Iraq BV to provide global maintenance services for gas compressor units and associated equipment located in the three Initial Production Facilities (IPF) plants in the Zubair oil fields in Southern Iraq.

The gas compressor units are comprised of gas engines, gas compressors, and relevant associated equipment. There are 30 compressors in total, with 18 at Hammar, six at Zubair and six at Rafidya. Weir engineers are now responsible for maintenance servicing of all compressors at each of the sites.

Ronan Le Gloahec (pictured), EMEA Regional Managing Director of Weir Oil & Gas, said:

Weir was selected for this contract due to our experience in Iraq, local footprint and know-how of the specific rotating machines and Field Maintenance methodologies.

“In addition to our state-of-the-art manufacturing facilities in Dubai and service centre in Abu Dhabi, we have a dedicated service centre in Basra, the first facility in Iraq has both API and ISO licenses.”

(Source: Oilfield Technology)

New IBBC Representative in UAE

Vikas Handa is joining the Iraq Britain Business Council (IBBC) as the UAE Representative to run the IBBC office in Dubai and will be responsible for the overall outreach in the Middle East & North Africa (MENA) region.

Many IBBC members will know Vikas, who previously headed Weir Oil & Gas operations in the Eastern Hemisphere for the last 17 years, where he set up the Weir Middle East branch and oversaw management of the European, African and CIS regions.

In particular, his highlights include; setting up an API well-head production and service facility in the UAE and Iraq, extending Weir’s general capabilities to oil and gas maintenance services and helping to reconstruct Iraq after the second Gulf war.

Furthermore, Vikas recently headed IBBC’s Oil and Gas chair and has a good relationship with IBBC’s key members and as a mechanical engineer, he understands the intricacies of the engineering world. Having worked for a British company and in Iraq and the middle East for over 20 years, he is well placed to help both British and Iraqi businesses at the IBBC.

As an expert oil and gas member, Vikas sees Dubai as the portal into Iraq, where multinational energy and oil companies as well as manufacturers and service providers aggregate to provide Iraq with products and services.

His role is to encourage more companies to work in Iraq and to bring skills and talent to support its redevelopment. For companies who are already based in Iraq and for those who are considering setting up business there, IBBC is a fast growing membership organisation which can aid business development and help companies navigate into this burgeoning market.

The time is right, the economy is stronger and with security significantly improving, Vikas is determined to bring world class services and investment opportunities into Iraq.

Vikas additionally has his own consultancy and service business in the Oil and Gas sector, which is based in the UAE.

If you are based in the Gulf and Dubai please contact Vikas Handa directly at: Vikas.handa@webuildiraq.org

(Source: IBBC)

IBBC Celebrates Successful Inaugural Conference in Dubai

More than 180 expert speakers and delegates from the UK, Iraq, UAE and abroad gathered in Dubai at The Address Dubai Marina on Sunday 18 December for the Iraq Britain Business Council’s (IBBC) Autumn Conference.

Usually held in London, the well-attended conference marked the first time the IBBC has held an event in the UAE, a hub for global and regional companies that operate in the Middle East.

The decision to move the Autumn Conference to Dubai has certainly proven to be a good one, with the new location attracting a new audience of business leaders and decision makers based in the region.

A record number of delegates from non-member companies registered for the event, including representatives from Mitsubishi, Serco, Rolls-Royce, Capital Bank of Jordan and LUKOIL.

They were joined by representatives from IBBC member companies, such as Shell, ExxonMobil, Siemens, GE, Amec Foster Wheeler, GardaWorld, Restrata, Eversheds and more.

The conference was supported by H.E. Mr Kadhim Finjan Al-Hamami, Iraq’s Minister of Transport, and Mr Frank Baker OBE, Her Majesty’s Ambassador to Iraq, who jointly opened the event with IBBC President Baroness Nicholson of Winterbourne.

The theme of the conference was ‘Doing Business in Iraq’. Delegates heard from Ariel Flores, General Manager of BP (Rumaila Operating Organisation), on operating Rumaila in a $50-barrel world during the first session, ‘The Iraq Oil and Gas Sector in 2016’. He focused particularly on how investing in technology, training and safety is key to Rumaila’s operations.

Meanwhile, Marwa Al Nasaa, the International Monetary Fund’s Resident Representative for Iraq delivered an overview of the IMF’s Stand-By Arrangement (SBA), economic developments under the SBA and a forecast of what’s to come.

Other headlining speakers included Dennis Flannery of Citibank, Dr Jafar Dhia Jafar of URUK Engineering and Contracting Company LLC., Zeeshan Sheikh of the International Finance Corporation, Salem Jawad Chalabi of Stephenson Horwood Middle East LLP and Jorge Vila of Iraq Middle Market Development Foundation (IMMDF), who addressed the audience from Paris via a Skype link-up.

IBBC members also joined panel discussions. Asrar Abdulhussein Mohammed of International Islamic Bank participated in the finance session, while Iain Rawlinson of Gulftainer and Peter Turner of SKA International shared their insights on opportunities in Iraq for investment and partnership within the transport and logistics sectors.

Amar Shubar of Management Partners, Gavin Rennie of EY, Afif Masri of PwC and Vikas Handa of Beas LLC (formerly of Weir Group) chaired the panels on finance, power, opportunities in the private sector and O&G respectively.

he IBBC Autumn Conference was generously sponsored by the Islamic International Bank, Gulftainer, Weir Group, SKA International and the IMMDF.

The IBBC’s next conference will take place at Mansion House, London, on Monday 3 April 2017. More information will be available in due course.

For information on the IBBC Autumn Conference, membership or conference sponsorship opportunities, contact the IBBC London team at london@webuildiraq.org or +44 20 7222 7100 or our UAE Representative Samer Al-Omari at samer.alomari@webuildiraq.org or +971552088000.

(Source: IBBC)

Baroness Nicholson – Opening Speech at IBBC Conference

Baroness Nicholson – Opening Speech for the Iraq Britain Business Council (IBBC) Conference on December 18th in Dubai:

Welcome to Dubai.

IBBC has been aware for many years of the important role that the UAE plays as a regional hub for business and trade through the MENA region and in particular as a regional base for companies and their families working in Iraq.

The ease of doing business here, the major port of Jebal Ali and Dubai and Abu Dhabi airports with their world beating airlines and the large number of Free Zones where companies can base their off shore activities plus enterprising and caring leadership by generations of the leaders of the UAE, all have contributed to the global status that the UAE now enjoys.

I extend my warmest thanks to the UAE Authorities for their support in allowing and promoting this conference, which we hope will become a permanent feature in IBBC’s annual calendar of events. The Department of Tourism and Commerce Marketing here in Dubai have been especially supportive.

I also warmly welcome the record number of non-member delegates who are joining an IBBC event for the first time and I hope you will all use this opportunity to engage with existing members and the senior IBBC team represented here, to learn more about what we do and how we work with our members about promoting business in Iraq. For members, I do urge you to discover the products and services on offer from our new friends.

Welcome to Delegates from Iraq.

I wish to thank the Government of Iraq for its support of this conference and to extend a special welcome to HE Mr Kadhim Finjan AL Hamami, Minister of Transport. Mr Finjan a friend and supporter of IBBC. His genuine concern lies with the People of Iraq and the Basrawis in particular.

IBBC appoints UAE Representative

The Iraq Britain Business Council (IBBC) is pleased to announce the appointment of Samer Al-Omari as its UAE Representative.

Working part-time from the Weir Group’s offices in Dubai, Samer will help promote IBBC to companies and organisations in the UAE; drive membership recruitment; and coordinate the planning of the IBBC Autumn Conference, which will be held at The Address Dubai Marina on Sunday 6 November.

Samer is currently Business Development Senior Adviser of Restrata’s Iraq operations, and has previously held business development positions in the oil, gas and energy sector, including roles at ME Consultancy LLC and Shell.

Samer has huge experience in Iraq and within the O&G and security industries,” IBBC’s Chief Operating Officer Christophe Michels said of the appointment. “We are fortunate that he has accepted to take up this role.

You can contact Samer here.

(Source: IBBC)

Iraq’s Financial Problems “Cyclical”

At the Iraq Britain Business Council (IBBC)‘s Spring Conference in London last week, there was a general feeling that the downturn in oil prices is temporary, and that Iraq’s finances will rebound in due course.

Referring to the long-term trend in oil prices, Vikas Handa of Weir Group was adamant that “there is only one way to go, and that is up.

Philippe Dauba-Pantanacce of Standard Chartered viewed Iraq’s financial difficulties as “cyclical“, adding, “money will come back to Iraq, simply because oil prices are bound to go higher.

In addition to the obvious importance of oil and gas to the Iraqi economy, Iraq’s Ambassador to the United Kingdom, Dr Salih Husain Ali, emphasised that Iraq also has other natural resources including uranium, silver and copper, and cited World Bank estimates of strong growth in the Iraqi economy over the next two years.

IBBC Spring Conference – “Iraq in Transition”

The Iraq Britain Business Council (IBBC) will be holding its Spring Conference on April 27 at Mansion House and on April 28 at Vintners’ Hall in London.

In recent weeks considerable political debate has taken place in Iraq following Prime Minister Abadi’s announcement of a technocrat reshuffle of his cabinet. It seems that the motto of the conference – ‘Iraq in Transition’ – fits what is happening in the country better than expected.

Unfortunately, this means that previously announced Iraqi Ministerial attendance cannot be confirmed anymore. The Minister of Oil will not attend the conference having stepped down from his post recently. It is still planned for the Iraqi Minister of Industry and Minerals, HE.Mohammed Sahib Khalaf Al-Daraji to attend.

The conference is the place to hear about the latest developments in Iraq from top level UK and Iraqi officials, businessmen and academics.

Confirmed speakers to date include:

  • H.E. Mohammed Sahib Khalaf Al-Daraji;
  • Baroness Nicholson of Winterbourne, IBBC Executive Chairman and the UK Trade Envoy for Iraq;
  • Frank Baker OBE, HM Ambassador to Iraq;
  • Jafaar Al Hamdani, Chairman of the Iraqi Federation of Chambers of Commerce;
  • Helena Morrissey, Newton Investments CEO and founder of 30% Club;
  • Lieutenant General Sir Simon Mayall;
  • Louis Taylor, CEO of UK Export Finance;
  • Lord Green of Hurstpierpoint; and,
  • Alderman Peter Estlin, the Lord Mayor’s Aldermanic Representative.

They will be joined by speakers from IBBC member companies such as Shell; BP; Standard Chartered Bank; Gulftainer; Weir Group; Restrata; Management Partners; Moby Group; Bath Spa University and others.

Topics on the agenda include:

  • Update on the Political and Security Environment in Iraq and the Middle East
  • Improving Human Capital: Public and Private Sectors
  • Trade and Finance: Export and Import, Duties and Customs
  • Oil and Gas: Project Finance / Downstream Developments
  • Telecoms, Media and Technology

Baroness Nicholson of Winterbourne will be hosting a post-conference dinner for delegates at the historic Vintners’ Hall.

Due to a large number of delegates registering for the conference, the second conference day venue is changing from Shell Centre to Vintners’ Hall. On both days delegates will enjoy the participation of a large delegation of Iraqi businessmen and regional officials representing most governorates of Iraq, led by the Chambers of Commerce.

IBBC members Shell, Restrata and Al Iraqia for Money Transfer have generously agreed to sponsor the event.

Please register via the online booking facility on the IBBC website, or contact the team on london@webuildiraq.org or +44 (0) 20 7222 7100 for advice and help.

The IBBC team looks forward to seeing you at the Spring Conference!