Saudi Steel Pipe (SSP) has been awarded a contract worth approximately SAR 177 mln (USD 47.2 mln) to supply steel pipes for the oil and gas sector to Saudi Aramco.
The contract has a term of 12 months, with its financial impact expected to be reflected in the company’s results for the second half of 2027, the company said in a statement to the Saudi Exchange (Tadawul).
SSP manufactures electrically resistance welded (ERW) steel pipes for the energy, industrial, and construction sectors across the Middle East and North Africa. The company’s product portfolio includes oil country tubular goods (OCTG), line pipes, API and premium connections, accessories, and related services. SSP has an annual production capacity exceeding 400,000 tons. In January 2019, Tenaris acquired a 47.79pct stake in SSP, after which the company was rebranded as TenarisSaudiSteelPipes.
1 USD / 3.75 SAR