SEOUL - SeAH Steel Holdings Corp., a prominent South Korean steelmaker, announced on Tuesday that it has secured a contract to supply approximately 200,000 tons of oil pipelines to the United Arab Emirates' largest oil company over the next five years.
According to Yonhap News Agency, Under this agreement, SeAH Steel's UAE unit will deliver pipelines to Abu Dhabi National Oil Company (Adnoc) for transporting crude oil and natural gas containing hydrogen sulfide. This deal marks a significant step in SeAH's expansion into the Middle Eastern market.
Additionally, Inox Tech, SeAH's specialized production arm in Italy, will provide around 14,000 tons of clad pipes for Adnoc's "Hail and Ghasha Project." This project is part of the Middle Eastern country's strategy to progressively achieve gas self-sufficiency, starting in the first half of the next year.
Clad pipes, known for combining the corrosion-resistant properties of alloys with the strength of carbon manganese steel, are essential for projects like Adnoc's due to their durability and efficiency. The official from SeAH highlighted the competitiveness of their overseas production companies in the steel pipe market, evidenced by the consecutive large-scale contracts in the Middle East. This deal is expected to bolster SeAH's presence in the region significantly.