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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