TMK, one of the world’s leading producers of tubular products for the oil and gas industry, shipped pipes for the construction of offshore pipelines for Oil and Natural Gas Corporation Limited (ONGC), India’s state-run oil company.
The new delivery is part of the Company’s cooperation with India’s largest oil producer for a number of consecutive years. TMK has also applied for ONGC’s other tenders to supply pipes for offshore pipelines, including deep water projects at depth of up to 500 m.
For several years, TMK has been consistently expanding its sales of casing, tubing and line pipe intended for offshore projects. In 2010, a tubing string with TMK FMT premium connections was run into a well at Lukoil’s Yury Korchagin oil field in the Caspian Sea, marking the first project to use Russian-made pipe in offshore well construction. TMK has also been a supplier and services provider for running its casing pipe into several wells at Novatek’s Yurkharovskoye field (Russian Arctic shelf), Zarubezhneft’s White Cat and White Tiger fields in Vietnam, as well as for several offshore projects in the Gulf of Mexico. TMK’s tubular products were also used for the construction of subsea pipelines at Lukoil’s Filanovsky field in the Russian sector of the Caspian Sea and a number of other offshore development projects.
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.