In anticipation of the upcoming IBBC Autumn Conference: ‘Doing Business in Iraq’, IBBC interviewed Vikas Handa, Managing Director of Weir Group, who will join two sessions at the event. The Q&A covers a broad range of topics, including Dubai as a new location for the conference, prospects for the oil and gas sector, the role of renewable energy and the development of Iraq’s national workforce

Question 1: Weir Group has been a strong supporter of the plan to move the IBBC’s Autumn Conference from London to Dubai. Can you explain what the benefits of having the event in the UAE are compared to London?

London and Dubai are two of the world’s great cities. London has been a fantastic location for the conference but so too will Dubai, particularly because of its role as a centre of trade and commerce for the entire Middle East. Many companies do business in Dubai and can conveniently attend an IBBC conference there. The UAE makes it easy to get visa access and the city itself offers the highest standards of comfort and convenience to everyone, from everywhere.

Question 2: At the conference you will be chairing the session ‘The Iraq Oil and Gas Sector in 2016’. Can you give us an insight into what the panel discussion will focus on?

Iraq has low-cost resources but it also has an ambition to maximise productivity in as short a time as possible in order to improve the country’s economic situation. As a consequence, foreign companies need to invest in the training and development of in-country personnel, thus allowing businesses to remain competitive and sustainable. This will consequently enhance employment opportunities for local people.

Question 3: With the rise of renewable energies, significant development in battery technologies and an increasingly energy-efficient industrial world, where do you think the oil and gas industry will be in 20 to 30 years?

The world needs a diverse range of energy sources and the best analysis suggests oil and gas will continue to play a major part in meeting the needs of the growing global population for decades to come. The industry has shown it is able to adapt to changing circumstances and I am sure that will continue in the future.

Question 4: At the conference you will also be talking about the importance of training the national workforce. Can you tell us more about Weir’s training programmes in Iraq?

As an organisation, Weir has been very active in sharing our skills and expertise with colleagues in Iraq as the country develops its industry.  We have seen the benefits that this partnership approach can bring for the people we work with, yet also for their families and communities. From a training and development perspective we’ve always focused on developing local content and talent. For example, Weir has been hiring and training Iraqi nationals to become technicians, machinists, supervisors and office staff, based on their skills and experience.

Additionally, subject matter experts from our existing staff act as mentors to locals who are taken on board and whose performance is improved and assessed on the job, not only in a live work environment, but also through trade tests. Our efforts complement the nationalisation drive of the Iraqi government and also give us a great platform to move towards our objective of an indigenous Iraqi workforce that is trained and competent for the future.

Question 5: Weir Group has made significant investments in Iraq. Why did the company choose to invest in Iraq compared to other places it could have gone to?

Weir’s business relations with Iraq Industry go back to the 1960’s. With significant installations of equipment, Weir has been involved in many rehabilitation projects from the year 2003. With issuance of the Licensing Agreements to IOCs in 2009-10, Weir wanted to build on their relationship with Iraqi industry and assist in rebuilding the infrastructure of the oil and gas industry, thus achieving increased output. We are providing in-country service support for the maintenance of assets in order to avoid export-import procedures of the kind which waste time and cost money.

Question 6: Weir Group has been a staunch supporter of the AMAR Foundation in Iraq, which provides healthcare and education throughout the country. Why has the company chosen this charity, in particular, to support?

Weir’s philosophy is development of the local workforce. As a responsible corporate citizen, we seek to aid local community development. Weir’s focus on such development aligns well with AMAR Foundation’s aim in providing healthcare, education and emergency aid when required, particularly for Iraqi women and young people. Weir firmly believes in local community empowerment through vocational and health care training.

Question 7: You are investing a considerable amount of your time in the activities of the IBBC, yet there are business councils for many countries you are responsible for in which you do not play such an active role. What sets IBBC apart from other organisations?

Weir has strong historical ties with Iraq and the Middle East, which we are building upon. Through our large presence in the Middle East, we can work efficiently alongside IBBC, with a focused approach on the development of Iraq’s infrastructure through an uplift of the local population and by imparting skills training, education and healthcare.