TMK prolongs cooperation agreement with China’s CPTDC

Tuesday, 09 February 2010 12:22:07 (GMT+2)

Russia's largest oil and gas pipe producer TMK and China Petroleum Technology & Development Corporation (CPTDC), a subsidiary of the leading Chinese state-owned oil corporation China National Petroleum Corporation (CNPC), have agreed to prolong up to March 2012 the long-term cooperation agreement which they signed in 2006.

Accordingly, the agreement aims to meet CPTDC's needs in TMK's pipe products, including large diameter (LD) pipes for pipeline projects implemented in the CIS countries.  In addition, it also provides for the coordination of joint actions of TMK and CPTDC in the development of new types of pipe products and in the execution of orders for the production and delivery of pipes to the Chinese company.

CPTDC supplies materials and equipment to CNPC for the development and exploitation of its oil and gas fields, and is one of the largest international operators for the supply of tubular products for CNPC's needs in the CIS countries. 

"The extension of this agreement is a further development of the mutually beneficial partnership between TMK and Chinese consumers of pipe products, which is a significant contribution to the expansion of our presence in the global market," TMK CEO Alexander G. Shiryaev commented.

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