Saudi's Arabian Pipes signs $46mln contract with Saudi Aramco

The contract duration is for 1.5 years

  
Spheroids under reconstruction are pictured at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Image for illustrative purposes.

Spheroids under reconstruction are pictured at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Image for illustrative purposes.

REUTERS/Maxim Shemetov

Arabian Pipes Company has been awarded a contract for the supply of oil country tubular goods (OCTG) steel pipes to Saudi Aramco.

The order value exceeds 174 million Saudi riyals ($46.39 million) and the contract duration is for 1.5 years, Arabian Pipes said in a statement to the Saudi bourse.

The company added that the financial impact of the contract will be reflected from the fourth quarter of 2020 until the third quarter of 2021.

(Writing by Gerard Aoun; editing by Seban Scaria)

(gerard.aoun@refinitiv.com)

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© ZAWYA 2019

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