Japanese steel producer Nippon Steel Corporation has announced that, together with Japan-based electric services company Sumitomo Corporation, it has extended the duration of their current long-term contract with Norway-based energy company Aker BP ASA for the supply of oil country tubular goods (OCTG) to the latter up to 2034.
Nippon Steel and Sumitomo have been providing OCTG to Aker BP since the latter’s establishment in 2016 for oil and gas field development and production projects in Norway. By renewing the contract, Nippon Steel will expand its strategic partnership with Aker BP and will consider the option of selling its products to companies operating in the decarbonization, hydrogen and ammonia fields in the future.