TUBACEX Group reaches 700M backlog order intake
06 June 2017
The Tubacex Group has boosted sales of higher added-value products, which has led the company to make progress throughout the Q2 with a backlog for premium product order intake for EUR 700M.
The company's order backlog includes a large volume of projects in the Middle East, especially in Iran, where the Group will supply the National Iranian Oil Company (NIOC) tubes for gas extraction and production. In Europe, the order activity will take place mainly in Norway and Russia, with special mention for a large OCTG order for a leading Russian oil company (Lukoil) and tubular products for refinery furnaces manufactured with Premium steel that withstand high temperatures. In Asia, there will be a special focus on the Caspian Sea, where the Tubacex Group has received its largest order to supply umbilical tubes for the Shah Deniz project; or China, a market in which five orders have been placed recently for new power stations, as well as an important order for Premium tubes for one of the country's main refineries.
These orders also include significant engineering solutions for the end user, such as full tube connection packages and services for gas extraction wells.