Riyadh –  Saudi Steel Pipe Company will provide Saudi Arabian Oil Company (Aramco) with oil and gas steel pipes under a contract worth SAR 189.9 million.

The contract duration is approximately 18 months starting from mid-November 2021, when the deal was signed.

Saudi Steel Pipe noted that the financial impact of this contract is expected to reflect on the income statements for the second half (H1) of 2022 and H1-23.

It is worth noting that Aramco will also be supplied with steel pipes from Arabian Pipes Company under two separate agreements signed this month and amounting to SAR 66 million and SAR 305 million.

Source: Mubasher

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