Japanese steel producer Nippon Steel Corporation has announced that it and Japan-based electric services company Sumitomo Corporation have extended the duration of their current long-term contract with Norway-based energy company Equinor for the supply of oil country tubular goods (OCTG) to the latter for a maximum of nine years.
Nippon Steel and Sumitomo Corporation have been supplying high-performance OCTG pipes to Equinor over the last 35 years for use in oil and gas development and in carbon capture and storage projects. The partnership contributes to the reduction of greenhouse gas emissions, Nippon Steel said.