Russia-based TMK, one of the world's leading oil and gas steel pipe producers, has announced that it has acquired 55 percent of Gulf International Pipe Industry L.L.C. (GIPI) which is located in Oman.
The Omani plant’s annual production capacity exceeds 200,000 mt of welded oil country tubular goods (OCTG) and line pipe for oil and gas industry. Currently, GIPI supplies pipes to major oil and gas companies in the Gulf Cooperation Council (GCC) countries.
The other GIPI shareholders include Oman Investment Corporation (OIC), Gulf Investment Corporation (GIC), and POSCO P&S.