Sweden-based high-technology and engineering group Sandvik Materials Technology has announced that it has concluded a number of agreements for the delivery of high value-added seamless tubes to the oil/gas industry to be used for extraction of oil in different projects around the world.
The combined value of the agreements with the Norwegian company Aker Solutions is SEK 700 million ($96.6 million) and deliveries will be made during 2010.
The tubes, to be delivered in continuous lengths of up to 30,000 meters, will be used in umbilicals, which are employed for such applications as remote operation of oil wells at large depths, down to 1,700 meters in these specific projects.