Sandvik secures contracts for strategic projects in Egypt worth $107 million
Sandvik secures strategic projects in Egypt; establishes regional HQ in Dubai.
Sandvik, a developer and producer of advanced stainless steels, special alloys, titanium, and other high-performance materials, has secured a number of strategic projects offshore Egypt to provide a comprehensive scope of Sandvik oil and gas solutions for the ongoing giant gas field developments in the region.
With contract values across the scope of supply in excess of $107 million, this represents a milestone development for Sandvik in the region.
Sandvik has seen double-digit growth in the region over the past three years, and recently established its EMEA Oil and Gas headquarters in Dubai, United Arab Emirates, to service major projects happening in the region and to remain in close proximity to regional customers.
The East Mediterranean is rife with opportunity. For example, the recently discovered Zohr offshore field near Egypt, the largest natural gas discovery in the Mediterranean in the last decade, will greatly boost the country’s energy potential. The “super giant” field potentially boasts an estimated 30 trillion cubic feet of natural gas.
“Operating in an offshore environment such as the Mediterranean Sea requires materials that are able to withstand the harsh conditions that these operations present. Having been chosen by the operators as well as equipment manufacturers and service providers to provide these solutions serves as testament to the quality of Sandvik’s products and solutions,” said Phil Cherrie, Regional Sales and Marketing Manager, Oil & Gas, EMEA, Sandvik.
As part of the contracts, Sandvik will be providing Super Duplex steel umbilical tubing; SANICRO 28, a high-alloy, high strength austenitic stainless steel for OCTG downhole production tubing together with alliance partner Tenaris; seamless alloy 625 control line and chemical injection lines encapsulated with tubing encased conductor (TEC lines).
Deliveries of these solutions have already begun in 2016 and will continue throughout 2017.
Additionally, Sandvik will be exhibiting at the Egypt Petroleum Show 2017. At the Sandvik booth (stand 1E61, Hall 1), the Swedish company will present its wide range of corrosion-resistant products including umbilical tubing, OCTG tubing, downhole control lines, hydraulic lines for drilling risers, tubing for sand screens, subsea piping material, welding products and slicklines. The booth will also display the complex components of powder metallurgy hot isostatic pressing (HIP) for subsea equipment.
Visitors will also learn more about the technical leadership and support that Sandvik can offer on material selection and solutions for corrosion challenges.Additionally, major project highlights in the UAE region will be showcased.
According to Phil Cherrie, Egypt and the region continues to be an important market for the company. The company has been active in the region for more than 30 years now and continues to invest actively in people and partnerships to support the wide customer base.
(Source: CPI Financial)