Razin Group

News

In recognition of Razin and its partners' continuously on-going efforts to prove that we are the best at what we do, we always aim at highlighting our latest news, awards and updates:

Russian ESP Giant signs joint venture deal with Dubai's Petrocomp

One of Russia 's largest electrical submersible pump (ESP) manufacturers, Novomet, has entered a joint venture agreement with Dubai 's Petrocomp FZCO.

Novomet is has an estimated 60,000 operating units. In comparison, similar ESP units operating in the North Sea sector does not exceed 100 while in the Middle East there are approximately 5000 units deployed.

The Joint Venture was brokered and Framework Agreement drafted by Dubai legal and business support consultancy Hugh Fraser International-Ventures International (HFI-VI).

Novomet currently has 35% of the Russian ESP market and is growing fast. With a proactive and responsive approach to customer requirements and a patented technology which gives them a competitive advantage over other manufacturers, Novomet will be of enormous interest to Middle East oil and gas operators and contractors.

Petrocomp general manager, Ahmed Al Mashgari, said: "This is a perfect fit for both companies. Novomet has superb, innovative technology and the manufacturing capability to make a huge impact in the Middle East while Petrocomp has the market knowledge, marketing ability and an understanding of the different cultures involved, to make this happen.

"The ESP business is a very conservative market which makes penetration difficult, especially if you have to compete with established Western companies that have a long track record working with the unique characteristics of the oil reservoirs in this part of the world.

"But even in the short time since the JV was formed, we have already made great strides in some very tough markets where the barriers are traditionally very high, and I am confident this will result in generous returns for both partner companies."

HFI lawyer Amr El Sabahi, who oversaw the legal work associated with forming the JV, added: "The Novomet/Petrocomp JV is an excellent example of how HFI-VI can assist Russian companies contemplating investment opportunities in the Middle East .

"One of our great strengths is the diversity of the HFI team, who speak many languages including Arabic, English, Russian, French and Italian, and are comprised of different legal backgrounds that combine both the Anglo-American legal system and the civil law legal system.

"This helps us overcome any language barrier or any possible misunderstandings and shortens the negotiations, drafting and legalization stages, which results in ensuring the new business is up and running efficiently in a very short time."

Razin and Schlumberger Water Services - France

In a very recent collaboration between Razin and Schlumberger Water Services based in France , a technical workshop was held in Damascus - Syria under the patronage of the Syrian European Business Center . The workshop, aimed at introducing Schlumberger's "artificial recharge" technology that will be a real solution to the problems faced by the Syrian Water Authorities in regards to the problem of lack of water. The successful workshop which received much publicity, ended on a public expression of interest to begin the technical aspect of the Artificial Recharge Project in the nearest future.

Razin

In celebration of the special 100th issue recently published by Lebanon Opportunities, the leading English Business Magazine in Lebanon , Razin received much awareness for its Group of Partners after having placed an advertorial in the Magazine.

IOID

Through its active role in the very large Darquain Oil Fields Projects in Iran, IOID was recently recognized as a company which has significantly contributed in the success of the Darquain Operations and therefore was awarded with a Certificate and Plate for appreciation.

Genesys International Ltd.

The mother company to our Genesys ME has recently gained the Queens Award for Enterprise in the category "International Trade". Genesys International Ltd. is one the youngest British companies ever to be granted this prestigious award. The announcement comes just prior to their fourth birthday and the citation reads for "Business Enterprise ".