ТМК, one of the world’s leading producers of tubular products for the oil and gas industry, has received an official notice of product approval from Abu Dhabi Company for Offshore Oil Operations (ADCO). Volzhsky Pipe Plant (VTZ), a TMK subsidiary, was acknowledged by ADCO as an approved vendor of threaded pipes with TMK PF premium connections.
ADCO is one of the biggest oil producers in the Middle East running onshore and offshore operations in Abu-Dhabi (UAE). The entity is controlled by the state-run Abu Dhabi National Oil Company (ADNOC).
“Acceptance of VTZ as an approved vendor of threaded pipes with premium connections significantly extends the competitive stance of ТМК in future tenders by ADCO, as well as by other ADNOC subsidiaries in Abu-Dhabi,” says TMK CEO Alexander Shiryaev. “The successful experience of supplying our products to ADCO will also support our case in future tenders by other global and regional oil & gas companies producing hydrocarbons in the Middle East. Symbolically, the message from ADCO arrived almost concurrently with a similar notice from India’s state-run oil and gas major ONGC, who has also officially approved our casing pipes with TMK PF premium connections”.
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 2012, TMK’s pipe shipments totaled 4.22 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.