Chairman's Introduction

The Unaoil Group has passed another important milestone in our goal to be the leading integrator and market consultant in the energy sector in the Middle East, North and West Africa, and the former Soviet Union. After hiring experienced leaders for each of our divisions (Automation, EPC, Inspection, Production Chemicals, Process Treatment, Rotating Equipment and Technical Resources), we are now visibly benefiting from the synergies between these operating companies and our Consulting division. With the impressive growth which has ensued, it is our challenge to maintain our team-based culture and risk-management techniques to continue to steer us safely through our industry’s cycle.

As before, I stress that maximum short-term profits are not our priority, but instead we will pursue what we think are more worthwhile goals: providing value-added services at competitive prices whilst developing local content, enabling technology transfer and creating jobs where these are still desperately needed.

By learning more from our setbacks than our victories, our Group is not only strong technically and financially, but also enjoys an excellent reputation with our clients and partners. All of us are proud, as indeed we should be, to pioneer ventures in difficult areas, regions and markets especially through volatile times. Our strategy to focus on our core business of integration continues to pay dividends thanks to the strong support of our clients, national and international oil companies, as well as related government agencies.

As for the future, the pressure for expansion is strong, but care needs to be taken to maintain our excellent standards of operations and service. After all, we are always seen to be only as good as the last project we have completed. We are well on track to reach our five year goals and I would like to take this opportunity to add a number of new targets, including:

deepening our involvement in carbon credit and sustainable-build projects through partnerships with leaders in sustainable development;
growing our Far Eastern-based businesses and M&A activities to meet the local content needs of these growth markets;
expanding our financial services capabilities to provide more points of service for our clients, including trade, project and vendor financing.

The Unaoil Group will continue to develop and expand its role in the energy sector. Now, more than ever, we are proud to be instrumental not only in the cost-effective economic and technological development that we offer our clients, but also in the social impact of our work. I would like to thank our customers, partners and our team of dedicated executives and employees for their commitment, loyalty and support. The future looks extremely promising and we look forward to building on it together.

Ata Ahsani
Chairman
The Unaoil Group of Companies

Recent Projects

Provision of Rolls Royce gas generators to SOC Iraq

During 2009 Unaoil successfully supplied, installed and commissioned 3 brand new Rolls Royce Avon 1535 Gas Generators to SOC Iraq. The project was executed ahead of schedule and allowed SOC to increase its oil output.

At a time when many Western companies are starting to consider returning to Iraq, Unaoil are ahead of the field and as part of this contract had a highly skilled, fully trained ex-pat team based in Iraq. They worked closely with the Unaoil in-country Iraqi experts.

This project once again demonstrated Unaoil’s unique capability to supply innovative technical and commercial solutions in the most challenging of environments ahead of schedule and exceeding the customer’s expectations.

Provision of production chemicals in Iraq

Unaoil’s involvement with Production Chemicals began in 2004 when we started supplying the Iraqi South Oil Company with desperately needed Emulsion Breaker (Demulsifier).

By 2006 Unaoil had established ‘Unachem Ltd’ which employed a dedicated and experienced team of locals and ex-pats. Combining this with the Group’s existing resources and infrastructure, we were able to cover all the skills and resources required of an independent Production Chemical company while at the same time providing on-site support to clients in Iraq. The integration of local capability with leading technology meant that by 2008, Unachem had engineered and prequalified several products including Demulsifiers and Corrosion Inhibitors, set up a blending and logistics facility in Ajman (UAE) and secured a revolving US$10m structured facility with BNP Paribas to support its production chemical business. Between 2006 and 2008 we secured greater than 90% of the production chemical market in Southern Iraq, delivered 40,000 drums of Demulsifier to SOC and were amongst the pioneers in qualifying and winning large contracts for the supply of Corrosion Inhibitor for SOC’s water injection facilities.

Our Group had several technical partners who provided innovative chemistry, lab support and QA/QC standards. We leveraged this platform to devise and refine products that were tailored for the Southern Iraq oilfields. One of our technical partners, Weatherford International, went on to purchase Unachem in 2008 and Unaoil remains their commercial advisors for all their Production Chemicals business for several countries in the Middle East.

More Projects