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Sulzer and Unaoil form Iraq rotating equipment servicing joint venture

24th November 2014

Sulzer has signed an agreement to form a joint venture with the Unaoil Group dedicated to the service of all rotating equipment for oil and gas, and power customers in Southern Iraq

Sulzer and Unaoil form Iraq rotating equipment servicing joint venture
Sulzer and Unaoil have considered in detail the risks and opportunities involved and developed robust plans to ensure employees and business interests are adequately protected

The joint venture will operate under the name of Sulzer Rotating Equipment FZCO and will have offices in Dubai, with local operations and a branch in Southern Iraq.

Sulzer and Unaoil have already cooperated in establishing a local 1,500 square metre rotating equipment workshop on the Rumaila Concession Area.

Rumaila, in Basra province close to Kuwait, is a major oilfield in a central location of the country’s oil producing south. It is considered the third largest oil field in the world and is estimated to contain 17 billion barrels, which accounts for 12 per cent of Iraq's oil reserves estimated at 143.1 billion barrels.

Over the past months, Sulzer and Unaoil have considered in detail the risks and opportunities involved and developed robust plans to ensure employees and business interests are adequately protected.

Sulzer will provide field service, maintenance, and overhaul services for all rotating equipment including pumps, turbines, compressors and electric motors. Seeking a single-point solution, Unaoil decided to work with Sulzer—the leading provider of services for rotating equipment—to provide all such services locally with a single technical partner.

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