ARABIAN PIPES WINS SAR 400-500 MILLION CONTRACT FOR SUPPLY OF STEEL PIPES TO OMAN’S PDO

Arabian Pipes Company awarded on Monday 21 Oct 2013 Three years agreement for supplying welded steel pipes to Petroleum Development of Oman (PDO) the leading company specialized in the exploration and production of Oil and Gas in the Sultanate of Oman. The supply agreement value range between SR 400 to 500 million and consist of producing, coating and supplying steel pipes designed for high pressure flow lines and critical applications. APC expect to start production in the 1st quarter of year 2014 and to supply continuously until year end of 2016 which will also impact the financials starting from 1st quarter 2014 till end of project. APC CEO stated that despite the fierce competition with regional and international pipes manufacturers APC succeeded to secure such agreement due to the Company advanced technical capabilities and long experience in supplying long term contract in Saudi Arabia, Oman and the region