Saudi Aramco awards $40m steel pipes contract to homegrown producer

RIYADH: Saudi Aramco has awarded a deal worth SR149.8 million ($40 million) to Saudi Steel Pipe Co. for the supply of oil and gas steel pipes.

Saudi Steel Pipe expects to see financial impact from its new order in the second and third quarters of 2023, it said in a bourse filing.

In May, the pipe producer signed a 10-month contract worth SR97 million with Saudi Aramco to supply the latter with oil and gas steel pipes.

Meanwhile, in June it won a contract worth SR58 million to supply oil giant Aramco with steel pipes for oil and gas extraction