By John Lee.

Scottish-based engineering firm Wood Group plc has said that its operations in Iraq will see increased activity.

In its half-year results for the six months ended 30 June 2019, the company said:

“Growth in 2019 will be led by Operations Solutions, where we expect increased activity in Iraq with customers including Basra Gas, and in Papua New Guinea and Australia with Exxon.”

The company combined with Amec Foster Wheeler in 2017.

(Source: Wood Group)

By John Lee.

Iraq’s Ministry of Oil has agreed with Foster Wheeler to cooperate on implementing projects of increase oil storage and export capacity.

At a meeting with representatives of the company, Mr. Fayadh H. Niema, the Senior Deputy Minister of Oil, said that the ministry is keen to develop and update the “exportation, reservation, pipelines and counters systems, in addition to the implementation of the new projects which contributes in raising the exportation and reservation capacities to higher levels which can be proper with the future plans to raise the oil exportation from the southern ports.

(Source: Ministry of Oil)

By John Lee.

In its results for 2015, published this morning, UK-based oil and gas engineer Amec Foster Wheeler re-affirmed the importance of the Iraqi market.

While it had no new contract wins to announce in Iraq over the past year, the company stated:

“Iraq remains an important market for us, as we support various IOCs as they develop the oil & gas fields in southern Iraq”.

Ian McHoul, Chief Financial Officer and interim CEO said:

“Our 2015 trading performance was in line with our November update …

“2016 is expected to be another year of challenging market conditions across upstream Oil & Gas and Mining.

“However, our exposure to a number of end markets, including downstream Oil & Gas, renewables and government work means we expect to see only a slight fall in like-for-like revenue, and a reduction in trading margins significantly less than the decline in 2015.”

Shares in Amec Foster Wheeler were up 7 percent in early trading, as the company announced plans to reduce its debt.

(Source: Amec Foster Wheeler, Yahoo!)

Penspen, a leading global provider of engineering and management services to the energy industry, has underlined its commitment to growth in the Middle East with three new appointments and investment in a new office in Iraq.

Ahmed Al-Dadah and Na’el Barghouthi have this month joined the company from other engineering providers, whilst Michael Simm, EVP of Engineering and Project Management, has been newly appointed to the role of Regional Director for Penspen’s Middle East business.

A new Iraq office, located in Basra will expand Penspen’s geographical reach and become the fourth location in the region joining Abu Dhabi, Doha and Khafji.

Peter O’Sullivan (pictured), Chief Executive of Penspen said:

This is an exciting time for Penspen as we continue our substantial growth in the Middle East. I am confident Michael, Na’el and Ahmed will play a key role in strengthening our 300-strong team in the region.

“Their industry expertise and leadership skills will drive our strategic objectives to grow our engineering, project management, field development and asset integrity businesses. ”

Ahmed Al-Dadah has been appointed to the role of Business Development Director for E&PM. He joins the company from Amec Foster Wheeler, where he spent 12 years working in various project delivery and business development roles. His experience includes working in the successful execution of study, pre-FEED, FEED, EPC phases across both new build and modifications projects

Na’el Barghouthi joins Penspen as Director of Asset Integrity, Middle East and Asia Pacific regions. Na’el’s career spans over 15 years working in the oil and gas industry with experience in management, offshore engineering and integrity. He has previously worked for Wood Group Kenny, GE Oil & Gas, Al Shaheen Holding Joint Venture, and Occidental Petroleum of Qatar.

Regional Director of the Middle East, Michael Simm, said:

I’m delighted to welcome Ahmed and Na’el to the team. Their skills and experience in delivering key services that our clients require in today’s lower-oil price economy will be of great value in further expanding our Middle East presence.”

(Source: Penspen)