Iraq is an emerging and exciting market for the oil and gas industry. With the Middle East being one of Petrofac’s core markets, Iraq was a logical next step for us. Located close to our large operational centre in Sharjah, it is geographically well placed for the business to execute almost any scope of work.
We are currently engaged on a range of projects worth more than US$1 billion:
We are fully committed to investing in our long-term presence in Iraq; developing relationships and understanding the operating environment is critical to this. We are engaging with the National and International Oil Companies as well as potential local partners and contractors who can support us. We are also working with local communities to make sure they feel engaged and are benefitting from us being there.
Our successes in projects such as Rumaila and Majnoon have led to the construction of a secure and permanent location - the Rumaila Operating Base - that offers both accommodation and office space. Reinforcing our commitment to Iraq for the long term, the base also gives our employees somewhere safe and comfortable to live.
Employing local talent is something that Petrofac tries to do in every market, and Iraq is no exception. We continue to recruit actively in the local market to support both current and anticipated projects. There is potential to help people develop new skills or keep their skills up to date. We have several training contracts in place, and our training business is expected to grow when the Rumaila Operating Organisation academy opens.
We have made significant progress with project execution and are very well established on the ground – we look forward to a long-term business in Iraq