Egypt’s Petromaint wins $121 million deal to maintain Iraqi oilfield

Egypt-based Alexandria Petroleum Maintenance Company (Petromaint) has won a $121 million deal to provide maintenance services at Iraq’s Zubair oilfield.

Petromaint’s assistant general manager for business development, Ahmed Hassan, said that the company started maintenance operations weeks ago, under a three-year deal, according to Economy Plus.

Petromaint intends to broaden its market footprint by expanding its cooperation with international operators in Iraq, particularly Italy’s Eni.

According to Hassan, regional development is a primary strategic focus for Petromaint, as the firm utilizes its staff, technological experience, and international connections to strengthen its position as a leading oilfield services provider in the Middle East and North Africa (MENA).

Discovered in 1949, the Zubair oilfield is located 20 kilometers southwest of Basra and is considered one of the largest oilfields in the world.

The Zubair field has proven reserves of approximately four to 4.5 billion barrels of oil. It currently produces around 450,000 barrels per day.

Expansion initiatives are intended to boost the field’s production capacity, with objectives ranging from 850,000 barrels per day to more than one million barrels per day.