Saudi Steel Pipe (SSP), the oil & gas pipe supplier listed on Saudi Arabia’s tadawul exchange, yesterday announced winning four contracts to supply steel pipes for sterilizing oil and gas wells and oil pipes from Saudi Aramco.
According to SSP, these contracts worth more than SAR 215.8 million.
“The company was awarded these contracts despite fierce competition with international peers,” said a statement by SSP. This success reflects SSPC’s abidance by quality standards and competitive prices.
The contracted pipes will be produced during Q4-12 and Q1-13 in SSPC’s plant in Dammam Second Industrial City as per Aramco’s specifications which conform to international standards.
The required raw materials will be supplied by Saudi’s downstream giant, SABIC.
The financial effect of these contracts will be reflected on Q1 and Q2-13 financial statements.
