Alexandria Petroleum Maintenance Company (Petromaint), a subsidiary of Egypt’s Ministry of Petroleum, has secured a $121 million contract to provide full maintenance services at the Zubair oilfield in Iraq.
The contract was disclosed on Monday by Petromaint’s assistant general manager for business development Ahmed Hassan who said the company began work in the field several weeks ago,
The contract will run for three years and is expected to support expansion efforts to boost the field’s daily production from the current 450,000 barrels to 850,000 barrels or even more.
Located 20 kilometres Southwest of Basra, Zubair is among the largest oil and gas fields not only in Iraq but globally.
It was discovered in 1949 and holds up to 4.5 billion barrels of oil in proven reserves.
Petromaint wants to expand its cooperation with international operators in Iraq, particularly Italy’s Eni, to broaden its footprint in the market.
The three-year contract fits into Petromaint’s regional strategy.
The company plans to leverage its workforce, technical expertise and international connections to expand its influence as a leading oil service provider in the Middle East–North Africa (MENA) region.
Petromaint’s regional footprints
Petromaint maintains an employee base of 10,000 workers, nearly 5% of whom are engineers and technical specialists working in maintenance and engineering inspection across the MENA region.
Currently, it owns a 20% joint venture stake with Modern Gas in Saudi Arabia and has active branches in Libya, Oman, alongside a growing share of foreign-sourced revenues.
It maintains active subsidiaries in Muscat as well as branches in Jordan, the UAE, and Niger.
The company is also targeting Algeria as its next growth market, with plans to establish a specialized maintenance and construction services facility for hydrocarbons and petrochemicals.
At the same time, the Egyptian government is also growingly seeking renewable energy partnerships with Gulf States.
In August, Egypt signed a $220 million agreement for the Atom Solar Egypt project, involving investors from the UAE and Bahrain.
The initiative aims to produce 2 GW of solar cells, 2 GW of solar panels, and 1 GWh of energy storage solutions, part of Egypt’s long-term strategy to localize renewable energy manufacturing.
