By John Lee.
Syscom 18, the Romanian-based system integrator for the oil and gas sector, is reported to be “grappling with” the effects of the ongoing conflict in Iraq.
General Manager Ion Andronache told Business Review that projects worth “several millions of euros annually” are at risk and could have a negative impact on its turnover.
He added that business ties with war-torn Syria had long been cut.
Details of some previous contracts in Iraq can be seen here.
(Source: Business Review)
Posted in Iraq Oil & Gas News Comments Off on Syscom 18 “Impacted by Iraq Woes”
By John Lee.
Syscom 18, the Romanian company specialising in industrial automation and measuring systems, has won a contract worth three million euros in Iraq.
The project involves the “design, construction, installation, electrical and automation side and starting operations of 40 fiscal metering systems”, to be integrated into two power plants; project completion is scheduled for the second half of 2013.
Ion Andronache, President of Syscom 18, commented:
“The fast development pace of the oil and gas segment in the region, but also our previous work experience in other countries in the Middle East, helped us win this project.
“Given that the regional markets continued to have a high economic potential, their financial and energy resources remained at important parameters and the Middle East further needs equipment of industrial measurement and control for oil exploitation.
“Six years ago still, we decided to orient a significant part of our business efforts to the external market and we did well. This year, about 25 percent of our revenue structure comes from international projects.“
“Iraq is for us a region of great interest. There are currently some serious opportunities for foreign companies wishing to implement projects in the Iraqi energy field. Their national development plans aim to satisfy, through the large projects of providing electricity, population’s increasing energy demands.
“So that power plants will be built, imports of electricity will increase, infrastructure is to be constructed. In other words, large investments into projects are expected, and experienced foreign companies in the field will also have access, those capable to implement short or long-term projects.
“Beyond the construction and operation of the power systems and units, opportunities will arise for the training of Iraqi engineers, managers and other staff in the energy sector.“
(Source: ACT Media)
Posted in Construction & Engineering In Iraq Comments Off on Syscom 18 Wins Deal for Power Metering Systems
Romanian company Syscom 18 has won two orders, totalling EUR 3 million, to provide metering skids for petroleum products in Iraq and Bahrain.
The products are to be delivered by the end of this spring.
Irak and Bahrain chose the Romanian company instead of companies from India and Pakistan, which are the main suppliers for liquids measuring systems.
“In some segments we compete with multinationals and national companies … The equipment we use is similar to other companies’, but we try to win customers with our approach to projects,” said Ion Andronache, chairman of Syscom 18, and majority shareholder, with 60 percent of the shares.
Established in 1991, Syscom 18 has about 150 employees and a total turnover of around EUR 8.4 million in 2010.
(Source: Romania Insider)
Posted in Iraq Oil & Gas News Comments Off on Romanian Company wins EUR 3m Contract in Iraq