Saudi Aramco awards $27m contract to homegrown pipe manufacturer

RIYADH: Saudi oil giant Aramco has awarded a contract worth SR100 million ($27 million) to homegrown Arabian Pipes Co. for the supply of steel pipes.

The contract will be valid for 10 months, the Riyadh-based pipe manufacturer said in a statement to the Saudi stock exchange.

Arabian Pipes expects the transaction to impact its financial statements during the first half of 2023.

Most recently, Aramco had entered into a deal with Saudi Steel Pipe Co. to provide oil and gas pipes at a value of SR97 million.