Saudi Arabia-based pipe producer Saudi Steel Pipe announced that its subsidiary Global Pipe has secured an $80 million contract to supply line pipes for UK-based engineering company Subsea 7’s offshore development project.
In a notice to the Saudi stock exchange Tadawul, the steel pipe producer stated that the contract duration is 11 months and that the total contract value amounts to SAR 300 million ($80 million).
Saudi Steel Pipe noted that the financial impact of the contract is expected to be reflected in the fourth quarter of 2026.
