Saudi Steel Pipe, Arabian Pipes to provide Aramco with steel pipes

The production will start during the fourth quarter of 2018

  
An Aramco employee walks near oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018.

An Aramco employee walks near oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018.

REUTERS/Ahmed Jadallah

Riyadh: Saudi Steel Pipe Company (SSP) and Arabian Pipes Company have announced that they will supply Aramco with steel pipes for oil and gas wells at a value that pass SAR 133 million.

The production will start during the fourth quarter of 2018, while the transaction’s financial impact will start to appear in Q1-19, according to SSP’s statement to the Saudi Stock Exchange (Tadawul).

The raw materials of this contract will be provided by the Saudi Basic Industries (SABIC).

In a separate statement, Arabian Pipes Company has announced that it will supply Aramco with steel pipes that will be used in lining wells with a value which exceed SAR 139 million.

Arabian Pipes Company further noted that it will start supplying Aramco by Q1-19, while financial impact will start to appear during Q1-19, and Q2-19.

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