As per the statement by Saudi Steel Pipe, the duration of the contract, which is valued at USD 25.80 million, would be for ten months. The steel pipe maker expects the deal to have its financial impact in the first half of 2023.
The Kingdom of Saudi Arabia (KSA)-based Saudi Steel Pipe Company (SSPC) has secured a deal worth SAR 97 million (USD 25.80 million) for the supply of oil and gas steel pipes to Aramco. Aramco is one of the world’s largest integrated energy and chemicals companies, providing valuable contributions across the hydrocarbon chain.
The time frame or validity of the contract would be for ten months, as per the statement by SSPC. The steel pipe manufacturer is hoping the transaction will have an impact on its financial performance in the first half of 2023.
Aramco manages KSA’s hydrocarbon reserves base, optimising production, and maximising long-term value. Some of the key downstream activities of Aramco include refining and petrochemical manufacturing. Other activities include base oils, lubricants, and power generation.
Saudi Steel Pipe Company, now known as TenarisSaudiSteelPipes, is a leading manufacturer and supplier of Electric Resistance Welded (ERW) steel pipes for the fields of energy, industrial, and construction segments. TenarisSaudiSteelPipes offers its customers a wide range of products including Oil Country Tubular Goods (OCTG), line pipe, API, premium connections and related accessories and services.