TMK, one of the world’s leading producers of tubular products for the oil and gas industry, has received official confirmation that its pipes made of the Company’s Russian-produced billets are eligible for use by Iraq’s South Oil Company (SOC).
Last year SOC’s engineers visited TMK’s Russian facilities to get an overview of pipe billet production technology. Based on their technical report, TMK’s pipe produced from the Company’s own Russian-made billet received the Iraqi Ministry of Oil approval for being used by SOC.
“TMK has put a lot of effort into securing its presence on the Iraqi market, which boasts strong potential for further growth. The decision made by the national Ministry of Oil proves the high quality of our pipe and billet, putting them alongside those made in the US, Japan, and Western Europe. From now on, TMK is fully capable of delivering pipe to both South Oil Company and any other state-controlled oil and gas producer in Iraq,” said Alexander Shiryaev, TMK CEO.
TMK (LSE: TMKS) is a leading global manufacturer and supplier of steel pipes for the oil and gas industry, operating 28 production sites in the United States, Russia, Canada, Romania, Oman, UAE, and Kazakhstan and two R&D centers in Russia and the USA. In 2013, TMK’s pipe shipments totaled 4.3 million tonnes. The largest share of TMK’s sales belongs to high margin oil country tubular goods (OCTG), shipped to customers in over 80 countries. TMK delivers its products along with an extensive package of services in heat treating, protective coating, premium connections threading, warehousing and pipe repairing.
TMK’s securities are listed on the London Stock Exchange, the OTCQX International Premier trading platform in the U.S. and on the Moscow Exchange MICEX-RTS.
TMK’s production assets structure:
|Ø Russian division:
|Ø American division:
Ø European division:
Ø Middle East Division: