TMK and Lukoil sign agreement on pipe supplies for 2012

TMK, one of the world’s leading producers of tubular products for the oil and gas industry, and Lukoil, one of the largest global vertically integrated oil and gas companies, have signed an agreement on pipe supplies for 2012.

Under the agreement, TMK guarantees to supply 100% of pipe products required by Lukoil for use in all stages of oil production and refining. The supply volumes are planned to be not fewer than 260,000 tonnes per year.

Lukoil is among the most significant customers of TMK’s products. In 2011, TMK will supply the oil company with more than 130,000 tonnes of pipe.

“TMK and Lukoil are tied by a longstanding partnership,” said Alexander Shiryaev, TMK CEO, in comments on the signed agreement. “The positive experience of our previous cooperation has made it possible for us to elevate it to a new all-encompassing level. As one of the world’s largest producers of pipe for the oil and gas industry, TMK will ensure that Lukoil, an oil industry leader, is fully supplied with all necessary pipe products.”