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Tenaris bags $1.9B tubulars and services contract from Abu Dhabi National Oil

Luxembourg-based steel pipes manufacturer Tenaris SA was granted a $1.9 billion contract by state-owned Abu Dhabi National Oil Co., or ADNOC, to supply tubulars and Rig Direct services over the next five years with the possibility of a two-year extension, according to an Aug. 22 release.

The contract is part of ADNOC's initiative to "secure smart procurement solutions that add value to its upstream oil and gas drilling business and promote in-country investment and service provision," the release said.

Tenaris also said it will install a threading facility and upgrading its Rig Direct service center in Abu Dhabi to better serve ADNOC.