Oil World FZE and Al‑Gharraf Oil Services Announce Strategic Joint Venture to Supply Oil & Gas Equipment and Services in Iraq

Dubai, UAE — February 2025: Oil World FZE (OW) and Al‑Gharraf Oil Services Company Limited (AGOS) are pleased to announce the signing of a new Joint Venture Agreement establishing a 50/50 partnership to supply engineering goods, equipment, and associated services to international oil and gas companies operating across the Republic of Iraq. The agreement, officially signed on 4 February 2025, creates a unified commercial platform that combines Oil World’s global sourcing, engineering expertise, and supply chain capabilities with Al‑Gharraf’s strong in‑country presence, client network, and operational infrastructure. Under the terms of the JV, OW will act as the Managing Venturer, responsible for pricing, bidding, proposal preparation, sourcing, logistics coordination, and contract execution. AGOS will support the JV through client introductions, in‑country representation, visa and security facilitation, customs clearance, and financial administration. All bids will be submitted under the AGOS name, with both parties jointly approving proposals. The JV will supply a wide range of oilfield and industrial products, including instrumentation, electrical equipment, valves, pumps, pipes and fittings, skids, flow‑control systems, and other specialized materials required by upstream and downstream operators. A Strategic Partnership for Iraq’s Energy Sector The JV is designed to strengthen supply reliability, improve delivery timelines, and provide international‑standard procurement solutions to operators across Iraq—excluding the Kurdistan Region, which may be added under a separate agreement in the future. Statements from the Partners Mohammed Shanshal, Director of Al‑Gharraf Oil Services, stated: “This partnership enhances our ability to serve international operators with high‑quality equipment and dependable supply chain support. Oil World brings global reach and technical depth, while Al‑Gharraf provides the local strength and operational capability needed to deliver in Iraq.” Firoz Majeeth, Director of Oil World FZE, added: “We are proud to join forces with Al‑Gharraf, a respected Iraqi company with deep industry relationships. Together, we will offer competitive, compliant, and efficient supply solutions to the country’s leading oil and gas projects.” About Oil World FZE Oil World FZE is a UAE‑based engineering and supply company specializing in oilfield equipment, industrial materials, and technical procurement solutions for global energy markets. About Al‑Gharraf Oil Services Company Limited AGOS is an Iraqi service provider offering logistics, manpower, operations support, and integrated services to major international oil and gas companies operating in Iraq.