SPX FLOW has signed an agreement to form a joint venture (JV) with the WTE Wajdi Group to expand its business of supplying all rotating and static equipment for oil and gas, industrial and power customers in Iraq.
The JV will operate under the name of ‘SPX FLOW & WTE Energy Industrial Services FZCO’ and will have offices in Dubai, with local operations and a subsidiary entity ‘S&W Energy Industrial Services’ based in the North Rumalia oilfield in southern Iraq.
US-based oilfield equipment supplier SPX FLOW and Iraqi industrial services provider WTE have already constructed a local 1,000sqm fully equipped workshop within the Rumalia Concession Area.
The workshop in Basrah province is located in the deemed heartland of Iraq’s oil producing south and is strategically located to provide easy access to Iraq’s ‘super giant’ oilfields – Zubair, Majnoon, Rumalia, West Quarna, Garraf, and Missan as well as accessible to serve refineries and power stations in Basrah and Baghdad.
“The JV with SPX FLOW is a significant step towards our vision of delivering a world class service locally. The new service centre located within WTE’s North Rumaila compound will provide the installed base around the country with a key hub for vital services for all types of rotating and static equipment, regardless of the original equipment manufacturer,” Falah Wajdi, owner and general manager, WTE Wajdi Group said.
“I look forward to collaborating closely with SPX FLOW to serve IOC’s and state companies in the region,” Wajdi was quoted as saying in a press release.
The JV entity will provide the following services: field service, site survey, workshop overhaul and maintenance services for all manufacturers of rotating equipment including centrifugal, reciprocating, and metering pumps, mixers, as well as static equipment service – valves, filters and quick release closures.
‘Its (the JV’s) purpose will also be as a resource to support new equipment and spares supply activities of SPX FLOW’s team and channel partner who will continue to focus on these projects in region’, read the statement from the two companies, received by arabianoilandgas.com.
Through this joint venture, SPX FLOW will jointly build upon WTE’s well-established presence, experience and knowledge of the Iraqi market while expanding on SPX FLOW’s extensive long-standing installed base in Iraq through its ClydeUnion Pumps, Bran & Luebbe, Plenty & Lightnin Mixer and Copes and M&J Valve Brands.
Through localisation of SPX FLOW engineering and service capabilities in Iraq, SPX FLOW and WTE aim to cater to both IOCs and state oil companies, as they assist Iraq’s industrial redevelopment and ramp up its daily oil production.
“I’m very excited by the opportunity that the JV with WTE in Iraq provides. It bolsters SPX FLOW’s global commitment to localize service capabilities in proximity to our key clients and enables us to best serve and quickly respond to their requirements,” Mortimer Buckley, regional general manager, SPX FLOW Middle East, was quoted as saying of the joint venture.
“The unique challenges of the Iraqi market highlight the need for us to provide a tailored service for our clients. They appreciate our commitment to be there with them at all times,” Buckley said.
