Tubacex signed the largest contract in its history worth 30,000 tonnes with the Abu Dhabi National Oil Company (ADNOC). The contract will last ten years and will cover the supply of complete solutions for gas extraction in the Middle East.
As the company explains in a press release, the agreement involves a commitment by Tubacex to build a new tube and wire manufacturing facility in Abu Dhabi, the first for the manufacture of OCTG (tubes for drilling activities) in the Middle East, which will be operational in 2024 and will create 150 jobs in the country. The company will make an investment of 100 million euros for its construction, which will strengthen its presence in the “strategic region” of the Middle East
This price is in addition to other recent multi-year agreements signed in recent weeks for the manufacture of umbilical, aerospace and 2/4 nuclear tubes which, taken together, place Tubacex with a total portfolio of more than 1,500 million euros .
ADNOC is one of the world’s leading energy companies, owned by the Emirate of Abu Dhabi, and has an ambitious plan to increase its production capacity and maximize the value of the emirate’s vast energy reserves.
Strengthens its presence in the Middle East
With the signing of this agreement, which was realized during the event Do it in the EmiratesTubacex has oriented its strategy to be a long-term strategic ally for the complete supply of OCTG CRA solutions, which include tubes and threads, as well as other complementary services (logistics services, inventory control and well technical services) for the extraction and production of gas.
“This agreement strengthens our long-term position in a region that is currently immersed in an ambitious investment plan, promoting and strengthening our operational structure,” said Jesús Esmorís, CEO of Tubacex, during the signing ceremony.
With the construction of the new plant, Tubacex would have three production plants in the region in Abu Dhabi, Saudi Arabia and Dubai, where it also has service centers and sales offices.
Likewise, this contract is in addition to the latest agreements concluded by the company in recent months which, taken as a whole, place its order book above 1,500 million euros.