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Sandvik concludes agreements for SEK 700 M to the oil/gas industry

Sandvik Materials Technology has concluded a number of agreements for the delivery of high value-added seamless tubes to the oil/gas industry.

The combined value of the agreements is SEK 700 M and deliveries will be made during 2010.

The customer is the Norwegian company Aker Solutions and the tubes will be used for extraction of oil in different projects around the world.

The tubes, to be delivered in continuous lengths of up to 30,000 meters, will be used in umbilicals, which are employed for such applications as remote operation of oil wells at large depths, down to 1,700 meters in these specific projects.

"The oil/gas industry places extremely high demands on product quality, performance and service life. The agreement further strengthens Sandvik's position as the leading supplier of advanced tubing for umbilicals in the oil/gas industry," says Peter Gossas, President of the Sandvik Materials Technology business area.

Sandviken, 30 March 2010

Sandvik Aktiebolag (publ)