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ADNOC Awards Contracts to Procure OCTG from Tenaris, Vallourec & Marubeni

Steel News - Published on Thu, 22 Aug 2019

Image Source: Gulf News
The Abu Dhabi National Oil Company announced the award of multi-billion-dollar contracts for the procurement of casing and tubing. The combined scope of the three contracts awarded is one of the world’s largest in this category. The contracts, which were awarded to Consolidated Suppliers Establishment, representing Tenaris SA; Abu Dhabi Oilfield Services Company, representing Vallourec SA and Habshan Trading Company, representing Marubeni Corporation, have a combined scope of AED 13.2 billion (USD 3.6 billion) and the potential to achieve In-Country Value of over 50 percent. This includes more than AED 367 million (USD 100 million) in foreign direct investment, over the next five years, to establish a state-of-the-art oil country tubular goods threading plant and repair center, and a training academy in Abu Dhabi to enhance local expertise and generate value for the UAE.

Under the terms of the contracts, the three companies will supply a combined total of 1 million tonnes of casing and tubing over 5 years, to support ADNOC’s drilling activities.

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Posted By : Sanju Moirangthem on Thu, 22 Aug 2019
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