Offshore staff

STAVANGER, Norway --Statoil has concluded framework agreements covering its casing, tubing, and pipeline steel needs over the next five years. This relates to its new developments and drilling operations on the Norwegian shelf, with further options for piping supplies for its international operations.

Pipeline steel forms the major component of the $2.178 billion outlay. The main suppliers are Sumitomo, Mitsui, Tenaris, V&M, Metal One/JFE, Itochu Marubeni/JFE, Butting, and Europipe.

Odd Noland of Statoil's Technology & Projects business area acknowledges the steep increase in steel demand in recent years. "This has led to higher prices and limited availability of raw materials critical to Statoil's projects and drilling operations. With these frame agreements, we have secured access to strategic equipment at competitive prices."

5/18/2007