Saudi Steel Pipe seals over $25mln supply deal with Uruguay’s TGS

Under the five-month agreement, the Saudi firm will provide TGS with oil and gas steel pipes

Staff Writer, Mubasher

August 1, 2022

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Riyadh – Saudi Steel Pipe Company has inked a supply contract worth SAR 94.70 million with Uruguay-based Tenaris Global Services (TGS).

Under the five-month agreement, the Saudi firm will provide TGS with oil and gas steel pipes, according to a recent bourse filing.

Meanwhile, the steel manufacturer pointed out that the deal will reflect on its financials during the fourth quarter (Q4) of 2022 as well as Q1-23.

Last March, the two entities signed a supply deal at a total value of SAR 88.50 million.

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