Latest news with #OCTG
Observer
01-06-2025
- Business
- Observer
EDO seeks partners to support energy transition, ICV
MUSCAT, JUNE 1 An Omani delegation comprising officials from Energy Development Oman (EDO), the wholly government-owned energy sector holding company, and the General Secretariat of the Tender Board, has embarked on a visit to Japan to meet with executives of two major conglomerates – Sumitomo Corporation and Nippon Steel. EDO said in a post on Sunday that the visit is part of efforts to efforts to 'develop strategic partnerships and enhance the localization of manufacturing in the energy sector'. Affiliated to the Ministry of Finance, EDO owns 60 per cent of the Block 6 concession operated by Petroleum Development Oman (PDO), 100 per cent of Block 6's non-associated gas concession, and 100 per cent of Hydrogen Oman (Hydrom), the master-planner of the Sultanate's green hydrogen industry. Significantly, discussions with the Japanese corporations encompass a wide range of objectives relevant to, among other areas, the energy transition, local manufacturing, and national capacity building. 'The visit's agenda includes several sessions addressing advanced industries supporting the energy sector, carbon capture, utilization, and storage (CCUS) technologies, as well as the development of integrated industrial parks. This visit reflects (EDO's) direction toward building a comprehensive industrial base, founded on knowledge transfer, role integration, and long-term collaboration that contributes to empowering national capabilities and enhancing the sector's readiness,' said EDO. 'During the visit, the company presented the Local Content Framework and Oman's readiness to host high-quality industrial investments, strengthening its position as a competitive hub in global energy value chains,' it further added. Both Sumitomo Corporation and Nippon Steel are longstanding suppliers of Oil Country Tubular Goods (OCTG) - pipes and casings used in oil and gas drilling and production operations – for Oman's hydrocarbon sector. EDO, by virtue of its majority shareholding in PDO, is one of the largest customers for OCTG hardware. The supply arrangement with PDO dates back to around 2003 when Sumitomo Corporation, together with Nippon Steel & Sumitomo Metal Corporation (NSSMC), signed deals to provide high quality OCTG goods to Oman's national oil company. A specialized storage area for OCTGs was also established in Port of Duqm's logistics zone as part of a 'Mill to Well' model designed to optimize supply chain efficiencies linked to the supply of these pipes to PDO. Earlier this year, EDO signed a Memorandum of Understanding (MoU) with Sumitomo Corporation Middle East to explore the localisation of OCTG manufacturing in Oman. The MoU also aimed to strengthen local manufacturing capabilities and reduce reliance on imports. Another large consumer of OCTG is BP, which operates the tight-gas fields of Block 61. In July 2018, Nippon Steel & Sumitomo Metal Corporation (NSSMC) forged a strategic partnership for the supply of OCTG to BP Exploration (Epsilon) Limited of Oman (BP Oman).
Al Etihad
21-05-2025
- Business
- Al Etihad
ADNOC and Tubacex establish partnership to localise oilfield technology in Abu Dhabi
21 May 2025 15:24 ABU DHABI (ALETIHAD)ADNOC has signed a strategic partnership agreement with Tubacex, a global leader in advanced tubular solutions, to localise critical oilfield technology, enhancing the resilience of the UAE's industrial base. The announcement was made at the Make it in the Emirates 2025 in Abu agreement grants ADNOC perpetual and exclusive rights to utilise Tubacex's Sentinel Prime premium tubular joint connection technology, which is critical for completing oil and gas wells while reducing costs and ensuring supply chain will establish a dedicated research and development (R&D) centre in Abu Dhabi. This facility will act as a hub for advanced engineering and train highly skilled technicians in-country – contributing to the development of local Al Kaabi, ADNOC Upstream CEO, said: "This strategic partnership secures ADNOC access to an important technology for completing oil and gas wells, reinforcing our role as a reliable global energy provider and our efforts to boost domestic manufacturing capacity. We welcome Tubacex's investment in a new research and development centre in Abu Dhabi which will enable knowledge and technology transfer, help develop local talent and support the goals of the Make it in the Emirates initiative.'Josu Imaz, Tubacex Group CEO, said: 'The licensing arrangement with ADNOC confirms Tubacex's commitment to innovation and excellence in the energy sector and reinforces our position as a strategic contributor for major players in the industry.' Tubulars, also known as Oil Country Tubular Goods (OCTG), are specialised steel pipes used in the drilling and completion of oil and gas wells. These components must meet stringent standards for strength, durability and reliability to operate in high-pressure, high-temperature environments deep underground.
Gulf Today
19-05-2025
- Business
- Gulf Today
Adnoc and Tubacex sign deal to localise oilfield technology
Adnoc announced the signing of a strategic partnership agreement with Tubacex, a global leader in advanced tubular solutions, to localise critical oilfield technology, enhancing the resilience of the UAE's industrial base. The announcement was made at the 'Make it in the Emirates' forum in Abu Dhabi. The agreement grants Adnoc perpetual and exclusive rights to utilise Tubacex's Sentinel Prime premium tubular joint connection technology, which is critical for completing oil and gas wells while reducing costs and ensuring supply chain resilience. Tubacex will establish a dedicated research and development (R&D) centre in Abu Dhabi. This facility will act as a hub for advanced engineering and train highly skilled technicians in-country - contributing to the development of local talent. Musabbeh Al Kaabi, Adnoc Upstream CEO, said, 'This strategic partnership secures Adnoc access to an important technology for completing oil and gas wells, reinforcing our role as a reliable global energy provider and our efforts to boost domestic manufacturing capacity.' 'We welcome Tubacex's investment in a new research and development centre in Abu Dhabi which will enable knowledge and technology transfer, help develop local talent and support the goals of the Make it in the Emirates initiative.' Tubulars, also known as Oil Country Tubular Goods (OCTG), are specialised steel pipes used in the drilling and completion of oil and gas wells. These components must meet stringent standards for strength, durability and reliability to operate in high-pressure, high-temperature environments deep underground. Josu Imaz, Tubacex Group CEO, said, 'The licencing arrangement with Adnoc confirms Tubacex's commitment to innovation and excellence in the energy sector and reinforces our position as a strategic contributor for major players in the industry.' The 'Make it in the Emirates' forum is taking place from 19-22 May at Adnec Centre Abu Dhabi. It is the UAE's flagship industrial event, designed to accelerate the country's manufacturing ambitions. Earlier Adnoc on Friday announced multiple agreements with United States (US) energy majors during the United Arab Emirates (UAE)-US business dialogue with US President Donald J. Trump. The agreements will potentially enable $60 billion of US investments in UAE energy projects across the lifespan of the projects. The agreements include a landmark field development plan with ExxonMobil and INPEX/JODCO to expand the capacity of Abu Dhabi's Upper Zakum offshore field through a phased development. Adnoc also signed a collaboration agreement with Occidental to explore increasing the production capacity of Shah Gas field's capacity to 1.85 billion standard cubic feet per day (bscfd) of natural gas, from 1.45 bscfd, and accelerating the deployment of advanced technologies in the field. The agreements reinforce the shared commitment of the UAE and US to maintaining global energy security and the stability of energy markets. The enterprise value of UAE energy investments into the US is set to reach $440 billion by 2035, as part of the UAE's $1.4 trillion investment plan into the country. Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, Adnoc Managing Director and Group CEO, said, 'The deep-rooted bilateral relationship between the UAE and the US is underpinned by our shared commitment to enabling energy abundance and we are reinforcing this commitment through these agreements with US energy majors.'
Al Etihad
19-05-2025
- Business
- Al Etihad
ADNOC, Tubacex sign agreement to localise oilfield technology
19 May 2025 15:30 ABU DHABI (ALETIHAD)ADNOC announced on Monday the signing of a strategic partnership agreement with Tubacex, a global leader in advanced tubular solutions, to localise critical oilfield technology, enhancing the resilience of the UAE's industrial base. The announcement was made at the 'Make it in the Emirates' forum in Abu agreement grants ADNOC perpetual and exclusive rights to utilise Tubacex's Sentinel Prime premium tubular joint connection technology, which is critical for completing oil and gas wells while reducing costs and ensuring supply chain will establish a dedicated research and development (R&D) centre in Abu Dhabi. This facility will act as a hub for advanced engineering and train highly skilled technicians in-country – contributing to the development of local Al Kaabi, ADNOC Upstream CEO, said, "This strategic partnership secures ADNOC access to an important technology for completing oil and gas wells, reinforcing our role as a reliable global energy provider and our efforts to boost domestic manufacturing capacity. We welcome Tubacex's investment in a new research and development centre in Abu Dhabi which will enable knowledge and technology transfer, help develop local talent and support the goals of the Make it in the Emirates initiative.'Tubulars, also known as Oil Country Tubular Goods (OCTG), are specialised steel pipes used in the drilling and completion of oil and gas wells. These components must meet stringent standards for strength, durability and reliability to operate in high-pressure, high-temperature environments deep Imaz, Tubacex Group CEO, said, 'The licencing arrangement with ADNOC confirms Tubacex's commitment to innovation and excellence in the energy sector and reinforces our position as a strategic contributor for major players in the industry.' The 'Make it in the Emirates' forum is taking place from May 19-22 at ADNEC Centre Abu Dhabi. It is the UAE's flagship industrial event, designed to accelerate the country's manufacturing ambitions.
Observer
18-04-2025
- Business
- Observer
EDO, Chinese firm to explore oilfield pipe production
MUSCAT: Building on its commitment to Local Content Development, wholly Omani government-owned Energy Development Oman (EDO) has signed an agreement with a major Chinese firm to study the potential for the localised production of steel pipes for Oman's pivotal Oil & Gas sector. Announcing the signing in a post on Thursday, EDO stated: 'As part of our commitment to supporting local content and enhancing manufacturing capabilities in Oman's energy sector, we have signed a Memorandum of Understanding (MoU) with Jiangsu Changbao Steel Tube Co of China to explore the development of a state-of-the-art Oil Country Tubular Goods (OCTG) manufacturing facility in the Sultanate of Oman.' Present at the signing, which took places under the auspices of Eng Badr bin Salim al Maamari, Secretary-General of the Tender Board, were Eng Azhar al Kindi, Chief Financial Officer — EDO and Cao Jian, Chairman of the Board — Jiangsu Changbao. 'This partnership is a key pillar of our strategy to achieve sustainable economic growth through effective collaborations that enhance local content and support the development of national industries. It also contributes to attracting strategic investments, empowering Omani talent and advancing the goals of economic diversification in line with Oman Vision 2040,' EDO added in its post. OCTGs are pipes and casings used in oil and gas drilling and production operations. Oman's requirement of OCTGs — across its portfolio of upstream oil and gas operators — is estimated to run into several hundred million dollars per annum, underscoring the pivotal importance of OCTGs in sustaining hydrocarbon activities in the country. Established in 1958, Jiangsu Changbao is one of the world's largest manufacturers of special steel tubes, with a combined production capacity of 1 million tonnes per annum across multiple production sites. In 2017, the Chinese firm launched its wholly-owned Oman subsidiary, Changbao Oman Oil Pipe Company, on a 21,200 m2 site in SOHAR Port and Freezone. Set up with an investment of $20 million, the Oman facility has an annual capacity of 50,000 tonnes of steel tubes. Importantly, the pact with Jiangsu Changbao Steel Tube is the second such agreement inked by EDO with a global manufacturer of OCTG goods so far this year — a move that underscores the sizable localisation production of OCTG hardware in Oman. In February, EDO signed a MoU with Sumitomo Corporation Middle East, the regional arm of Japanese-based global conglomerate Sumitomo, to explore the localisation of OCTG manufacturing in the Sultanate of Oman. EDO, by virtue of its 60 per cent ownership of oil resources and 100 per cent non-associated gas resources in Block 6 operated by Petroleum Development Oman (PDO), is the largest consumer of OCTGs in Oman by far. Sumitomo Corporation Middle East (SCME) is a longstanding supplier of OCTGs to Petroleum Development Oman (PDO). A specialised storage area for OCTGs has since been established in Port of Duqm's logistics zone as part of a 'Mill to Well' model designed to optimise supply chain efficiencies linked to the supply of these pipes to PDO.
