The contracts, signed for the next five-year period were awarded to Sumitomo, Mitsui, Tenaris, V&M...
The Norwegian oil company Statoil has announced that it has signed casings, tubing and pipeline steel framework contracts for a total of NOK13.2 billion, Norway Post reported.
The contracts, signed for the next five-year period were awarded to Sumitomo, Mitsui, Tenaris, V&M, Metal One/JFE, Itochu Marubeni/JFE, Butting and Europipe GmbH, and will cover all of Statoil's needs for piping for new developments and drilling operations on the Norwegian continental shelf.
The demand for steel has increased significantly on a global scale in recent years, says Odd K Noeland, vice president for steel procurements in the Technology & Projects (T&P) business area.
This has led to higher prices and limited availability of raw materials critical to Statoil's projects and drilling operations. With these frame agreements we have secured access to strategic equipment at competitive prices, Noeland says.