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RESTON, Va., Dec. 12, 2012 /PRNewswire via COMTEX/ -- SOS International LLC (SOSi) today announced the formation of Iraq Oil Technology, representing the latest SOSi investment in a rapidly evolving and revitalized Iraq. The new venture was formed in partnership with Al-Essam Group of Iraq and Milio International of Dubai.
Headquartered in Baghdad, with offices in Dubai, Amman, New York and Washington, D.C., Iraq Oil Technology is an energy supply, infrastructure, exploration, logistics and trading company established to serve the needs of the international business and diplomatic communities in Iraq.
Over the past 10 years, SOSi has successfully managed more than $500 million in United States government contracts in Iraq and employed thousands of Iraqi and U.S. nationals on a variety of large training, consulting and capacity-building projects. When the U.S. military redeployed at the end of 2011, SOSi shifted its focus to supporting the growing needs of the international business community in Iraq. The company now provides a broad range of services to both the U.S. and Iraqi governments and a number of large multinational corporations in the energy, construction, trading, logistics and service sectors.
SOSi partner Milio International is a global fuel supply, trading, logistics and investment company established in 1997 by former oil trading staff of Phibro, the commodities trading division of investment bank Salomon Brothers. The company is headquartered in Dubai, with representatives in London, Moscow, Azerbaijan, Uzbekistan, Afghanistan, Turkmenistan, Tajikistan, Estonia and the United States. Milio's core business is in the development and execution of niche transport, supply and trading strategies in the international energy sector. Its commercial interests include purchasing and trading crude and refined oil products within the former Soviet Union and supplying jet and diesel fuel to Central Asia and Africa. Milio is, by far, the largest supplier of refined fuel products to U.S. and NATO forces in Afghanistan, having successfully transported and supplied fuel valued at over one billion dollars in the past five years alone.
Al-Essam Group, among the largest commercial entities in Iraq, is comprised of 15 different companies in the trading, engineering, construction, industrial, logistics, agriculture, catering, and communications sectors. It has successfully managed two billion dollars worth of engineering and construction projects in Iraq, including the engineering and construction of the largest water purification plant in the Middle East and a state-of-the-art sewage treatment plant for the Iraqi government. Al-Essam Group is also the exclusive local agent for several large western companies in Iraq, including Pepsi-Cola, making it the largest wholesale supplier and distributor of water and other beverages in the country.
"We established Iraq Oil Technology with several objectives in mind," said Julian M. Setian, SOSi's Chief Executive Officer. "We wanted to meet the rapidly growing fuel demands of the Iraqi people and play a role in ensuring the normalization of Iraqi society by making it easier for the international diplomatic and businesses communities to operate."
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Headquartered in Baghdad, with offices in Dubai, Amman, New York and Washington, D.C., Iraq Oil Technology is an energy supply, infrastructure, exploration, logistics and trading company established to serve the needs of the international business and diplomatic communities in Iraq.
Over the past 10 years, SOSi has successfully managed more than $500 million in United States government contracts in Iraq and employed thousands of Iraqi and U.S. nationals on a variety of large training, consulting and capacity-building projects. When the U.S. military redeployed at the end of 2011, SOSi shifted its focus to supporting the growing needs of the international business community in Iraq. The company now provides a broad range of services to both the U.S. and Iraqi governments and a number of large multinational corporations in the energy, construction, trading, logistics and service sectors.
SOSi partner Milio International is a global fuel supply, trading, logistics and investment company established in 1997 by former oil trading staff of Phibro, the commodities trading division of investment bank Salomon Brothers. The company is headquartered in Dubai, with representatives in London, Moscow, Azerbaijan, Uzbekistan, Afghanistan, Turkmenistan, Tajikistan, Estonia and the United States. Milio's core business is in the development and execution of niche transport, supply and trading strategies in the international energy sector. Its commercial interests include purchasing and trading crude and refined oil products within the former Soviet Union and supplying jet and diesel fuel to Central Asia and Africa. Milio is, by far, the largest supplier of refined fuel products to U.S. and NATO forces in Afghanistan, having successfully transported and supplied fuel valued at over one billion dollars in the past five years alone.
Al-Essam Group, among the largest commercial entities in Iraq, is comprised of 15 different companies in the trading, engineering, construction, industrial, logistics, agriculture, catering, and communications sectors. It has successfully managed two billion dollars worth of engineering and construction projects in Iraq, including the engineering and construction of the largest water purification plant in the Middle East and a state-of-the-art sewage treatment plant for the Iraqi government. Al-Essam Group is also the exclusive local agent for several large western companies in Iraq, including Pepsi-Cola, making it the largest wholesale supplier and distributor of water and other beverages in the country.
"We established Iraq Oil Technology with several objectives in mind," said Julian M. Setian, SOSi's Chief Executive Officer. "We wanted to meet the rapidly growing fuel demands of the Iraqi people and play a role in ensuring the normalization of Iraqi society by making it easier for the international diplomatic and businesses communities to operate."
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