Spains TUBACEX has secured its largest ever award with Abu Dhabi National Oil Company (ADNOC) worth in excess of 30,000 tons over 10 years for the supply of comprehensive solutions for gas extraction in the Middle East
As part of the award, TUBACEX will build a new tube and thread manufacturing plant in Abu Dhabi, the first manufacturing facility for OCTG in the Middle East, expected to be operational in 2024. This award builds on other multi-annual contracts signed in recent weeks for the manufacturing of umbilical, nuclear and aerospace tubes, giving TUBACEX a total backlog of more than €1.5bn (US$1.6bn).
The agreement was signed in Abu Dhabi during the "Make it in the Emirates" forum that brought together the largest industrial companies and investors in the UAE to share their development plans and boost local manufacturing investment.
The forthcoming construction of a plant in Abu Dhabi, involving investment of US$100mn and creating 150 jobs, will guarantee the reliable supply for large scale projects, such as the one signed with ADNOC, and strengthens TUBACEX’s positioning and commitment in the Middle East,
“This agreement reinforces our long-term positioning in a region that is currently immersed in an ambitious investment plan, boosting and consolidating our operational structure in the region,” commented Jesús Esmorís, CEO of TUBACEX, during the signing ceremony.
With this new plant, the company will have three production facilities in the region, in Abu Dhabi, Saudi Arabia and Dubai, where it also has service centres and sales offices.
By signing this strategic agreement, TUBACEX has accelerated its diversification plan, aligned with decarbonisation demands, in which gas plays a key role in the energy transition towards green power and lower carbon.
