British company and Iraqi group hopeful of generating more than $20m in business in five years
British energy engineering services provider, EnerMech, and Iraqi business house, Khudairi Group, have launched a joint venture to target the re-emerging oil and gas and large infrastructure sectors in the Middle Eastern country, with a projection of generating more than $20m in business within five years.
Owned by prominent Iraqi trading families, the Khudairi Group has focused on the country’s growing oil sector since 2009, and serves both international petroleum companies as well as the state-owned oil sector. The group’s experience and expertise is in line with EnerMech’s main business objectives, said the UK-based company, which provides mechanical services and solutions to the international energy services sector.
“There are a large number of opportunities in Iraq’s oil and gas sector as well as in large capital projects in the infrastructure sector, and working with Khudairi Group, which has long-established relationships with the major operators, will leverage benefits for both companies,” John Guy, regional director for EnerMech Middle East, Asia and Caspian, told Khl.com.
“We share the same ethics and business values and believe that the joint venture can evolve into a $20m plus per annum enterprise within three to five years. We are in the process of tendering for a significant number of work scopes and are already seeing substantial traction.”
EnerMech’s Middle East general manager, Chris Barker, will lead the new enterprise, reporting to Guy and Mohammed Khudairi, director for the Khudairi Group.