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)

Iraq will rely on a newly formed state oil company to develop the Nassiriya oil field, leaving only the nearby refinery project for investors, ending more than six years of pitching the two as a combined mega-project, according to Iraq Oil Report.

Most recently, Iraq had been in direct negotiations with PetroChina and the China National Offshore Oil Corp. (CNOOC) to build a 150,000 barrel per day (bpd) refinery and develop the 4.4 billion barrel Nassiriya oil field – the two components of the Nassiriya Integrated Project.

The international engineering and construction firm Foster Wheeler completed a Front End Engineering and Design (FEED) study for the refinery.

Read the full report from Iraq Oil Report here (subscription required).

(Source: Iraq Oil Report)

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)

Amec Foster Wheeler announced this morning that it has been awarded a three-year framework agreement by BP Iraq NV to complete conceptual studies and pre-front end engineering design (FEED) work to support BP plans to sustain and grown production at the Rumaila oil field in Iraq.

Rumaila, one of the world’s largest oil fields and the largest producing field in Iraq, is situated in the southern region of Iraq and has been producing since 1954. Average daily production in 2014 was 1.34 million barrels per day (bpd), part of a trend that has seen daily production rise from around 950,000 bpd in 2010 when BP began work. Rumaila now delivers more than a third of Iraq’s oil.

Amec Foster Wheeler’s scope of work is to carry out engineering studies for facilities and infrastructure that are crucial for the Rumaila field to sustain and increase production.

Roberto Penno  (pictured), Amec Foster Wheeler Group President for Asia, Middle East, Africa & Southern Europe, said:

“We undertook a number of studies on the Rumaila field back in 2010 and this latest framework agreement recognises our conceptual and pre-FEED expertise and continues our strong relationship with BP and our track record in Iraq. We are looking forward to supporting BP in realising its objectives for the Rumaila field.”

The company’s shares were trading up more than 4 percent on Monday morning.

(Sources: Amec Foster Wheeler, Yahoo!)

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)

Iraqi and British politicians will be joining senior business leaders from both countries at the Iraq Britain Business Council’s (IBBC) eighth London conference in early November.

Entitled “Iraq – Accentuating the Positive”, the event is being held at the spectacular Institution for Civil Engineers building, One Great George Street, on November 5th and 6th.

In light of the extremely challenging situation in Iraq, the IBBC has this year chosen to focus on the continuing opportunities for British business in the country’s fast growing economy.

Chief Operating Officer, Mr Christophe Michels, said the council would provide a realistic assessment of what was going on in Iraq, financially, politically and socially.

For the first time, the event will be open to non-members.  Mr Michels says this will provide a “excellent opportunity” for business people from all sectors to meet some of the main players in the Iraqi business and political world.

The conference will comprise five separate sessions under the headings:

  • What is really happening in Iraq?
  • Consolidating Success (Using Actual Examples).
  • The Importance of the Built Environment for the Future of Iraq.
  • Oil and Gas.
  • Educational Development in Iraq.

The IBBC has already confirmed the attendance of Sheikh Humam Hamoudi, 1st Deputy Speaker of the Iraqi Council of Representatives, Lords Howell of Guildford and Green of Hurstpierpoint, the new British Ambassador to Baghdad, Mr Frank Baker, and Mr Faik Nerweji, the Iraqi Ambassador to the UK, together with other senior officials and politicians from the UK and throughout Iraq.

From the commercial and business community in Iraq, CEO of Genel Energy Tony Hayward will address the conference, Jack Pringle of Pringle and Brandon will be chairing the built environment panel whilst representatives from Shell, SKA, Al Saraji Group, Zaha Hadid Architects, SSH, Foster Wheeler, BP and Perkins+Will will all be participating.

Dr Alastair Niven will be chairing the education panel with high level representatives of the British Council, the Iraqi Government and the Leadership Foundation for Higher Education on it.

The second day of the conference has been organised in partnership with UKTI. Mr Michels says it will provide a valuable chance to assess immediate opportunities and longer-term prospects for small to medium sized companies who want to work in Iraq.

A large number of Iraqi businesses seeking business partners in the UK will be attending both conference days.

Non-members who wish to attend should contact Richard Cotton or Christophe Michels at london@webuildiraq.org. Tickets for the first conference day are priced at £750 each. Attendance of the second conference day is free of charge.

Iraqi and British politicians will be joining senior business leaders from both countries at the Iraq Britain Business Council’s (IBBC) eighth London conference in early November.

Entitled “Iraq – Accentuating the Positive”, the event is being held at the spectacular Institution for Civil Engineers building, One Great George Street, on November 5th and 6th.

In light of the extremely challenging situation in Iraq, the IBBC has this year chosen to focus on the continuing opportunities for British business in the country’s fast growing economy.

Chief Operating Officer, Mr Christophe Michels, said the council would provide a realistic assessment of what was going on in Iraq, financially, politically and socially.

For the first time, the event will be open to non-members.  Mr Michels says this will provide a “excellent opportunity” for business people from all sectors to meet some of the main players in the Iraqi business and political world.

The conference will comprise five separate sessions under the headings:

  • What is really happening in Iraq?
  • Consolidating Success (Using Actual Examples).
  • The Importance of the Built Environment for the Future of Iraq.
  • Oil and Gas.
  • Educational Development in Iraq.

The IBBC has already confirmed the attendance of Sheikh Humam Hamoudi, 1st Deputy Speaker of the Iraqi Council of Representatives, Lords Howell of Guildford and Green of Hurstpierpoint, the new British Ambassador to Baghdad, Mr Frank Baker, and Mr Faik Nerweji, the Iraqi Ambassador to the UK, together with other senior officials and politicians from the UK and throughout Iraq.

From the commercial and business community in Iraq, CEO of Genel Energy Tony Hayward will address the conference, Jack Pringle of Pringle and Brandon will be chairing the built environment panel whilst representatives from Shell, SKA, Al Saraji Group, Zaha Hadid Architects, SSH, Foster Wheeler, BP and Perkins+Will will all be participating.

Dr Alastair Niven will be chairing the education panel with high level representatives of the British Council, the Iraqi Government and the Leadership Foundation for Higher Education on it.

The second day of the conference has been organised in partnership with UKTI. Mr Michels says it will provide a valuable chance to assess immediate opportunities and longer-term prospects for small to medium sized companies who want to work in Iraq.

A large number of Iraqi businesses seeking business partners in the UK will be attending both conference days.

Non-members who wish to attend should contact Richard Cotton or Christophe Michels at london@webuildiraq.org. Tickets for the first conference day are priced at £750 each. Attendance of the second conference day is free of charge.