SSP and Tenaris seal $28 million deal for oil and gas pipelines

In a significant development for the energy sector, the Saudi Pipeline Company (SPC) has recently entered into a lucrative contract with global steel pipe manufacturer Tenaris to procure oil and gas pipelines. According to the agreement, SSP is committed to delivering the pipelines to Tenaris Global Services within eight months. The deal, valued at a substantial 105 million Saudi riyals ($28 million), marks a strategic move by SPC to enhance and expand its infrastructure capabilities.

Tenaris had acquired a 47.79 percent stake in SSP in 2019, leading to the rebranding of the company as Tenaris Saudi Steel Pipes. Under the terms of the agreement, Tenaris will supply state-of-the-art pipelines to support the transportation of oil and gas across the country, contributing to the overall efficiency and reliability of Saudi Arabia's energy distribution network. The partnership aims to leverage Tenaris' cutting-edge technology and expertise in manufacturing high-quality steel pipes for challenging environments, ensuring the durability and longevity of the pipelines.