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39
th
Annual Report
VI. THE ARAB WELL LOGGING COMPANY (AWLCO)
AWLCO was established on 24 March 1983, with a fully paid-up capital
of US$20million, and is based in Baghdad, Iraq. All OAPEC member
countries have stakes in the company equal to their stakes in the Arab
Petroleum Services Company (APSCO). The company specializes in well
logging and perforation, and has operation centers in the north and south.
1. Company Activities During the Period from 1 January 2011 to
30 June 2012
In 2011 AWLCO continued to provide well logging and perforation
services in all the Iraqi fields. The main features of its activity were as
follows:
Higher volume and quality of business extended to North Oil
•
Company, while the volume of business continued to maintain its
level of 2010, which was implemented to the favor of a number
of companies in the south due to the entry of licensing contracts
in the south, outsourcing the services of international companies.
AWLCO is capable of completing a larger number of business
activities by utilizing its equipment or through cooperation with
global companies, due to its competitive edge.
Company’s revenues maintained level, with slight improvement,
•
despite the development of service quality.
Higher profit of the company compared to 2010, due to higher
•
volume of business and continued cost rationalization.
Providing companies having contracts with the Iraqi Oil Ministry
•
with well logging and perforation services.
Providing production companies with new services, such as well
•
lining erosion measurement loggers and production testing.
The arrival of new underground devices and equipment, which
•
were acquired by investing the company’s profits in this area. The
company had made contracts for acquisition in 2011. Currently, the
company uses such equipment and devices with success in North
Oil Company fields.
