Sandvik, a developer and producer of high-performance materials, signed 100 million euros worth of contracts for offshore Egypt projects, the company said.
The contracts will involve comprehensive scope of oil and gas solutions for the ongoing giant gas field developments in the region, Sandvik said in a statement.
Sandvik has seen double-digit growth in the region over the past three years, and recently established its EMEA oil and gas headquarters in Dubai, to service major projects happening in the region and to remain in close proximity to regional customers.
The East Mediterranean is picking up pace of development after the recently discovered Zohr offshore field near Egypt, the largest natural gas discovery in the Mediterranean in the last decade. This is expected to greatly boost Egypt’s energy potential. The “super giant” field potentially boasts an estimated 30 trillion cubic feet of natural gas.
“Operating in an offshore environment such as the Mediterranean Sea requires materials that are able to withstand the harsh conditions that these operations present,” said Phil Cherrie, regional sales and marketing manager for oil and gas, EMEA at Sandvik. “Having been chosen by the operators as well as equipment manufacturers and service providers to provide these solutions serves as testament to the quality of Sandvik’s products and solutions.”
As part of the contracts, Sandvik will be providing Super Duplex steel umbilical tubing; SANICRO 28, a high-alloy, high strength austenitic stainless steel for OCTG downhole production tubing together with alliance partner Tenaris; seamless alloy 625 control line and chemical injection lines encapsulated with tubing encased conductor (TEC lines).
Deliveries of these solutions have already begun in 2016 and will continue throughout 2017, Sandvik said.
Egypt and the region continues to be an important market for the company, Cherrie said. The company has been active in the region for more than 30 years now and continues to invest actively in people and partnerships to support the wide customer base.