Saudi Arabia-based pipemaker TenarisSaudiSteelPipes, formerly known as Saudi Steel Pipe Co. (SSP), has announced that it has signed a contract with Saudi Arabian oil and gas company Aramco to supply oil and gas pipes worth SAR 138.6 million ($36.96 million).
Under the contract, Saudi Steel Pipe will supply oil and gas pipes to Aramco during up to 12 months. The financial impact of this contract is expected to be reflected in the third and fourth quarters of 2024.
In 2019, Tenaris acquired 47.79 percent of SSP shares and rebranded the company as TenarisSaudiSteelPipes.