The TUBACEX Group has supplied material for the cooling system of the first subsea compression
facility in the world, which was commissioned by Statoil in Asgard, in the Norwegian Sea, in September. This subsea system manufactured by Aker Solutions will boost output from the ageing field by around 306 million additional barrels of oil. The location of this equipment at the sea floor, closer to the well (instead of at the surface platform), allows for much higher oil and gas recovery.


Schlumberger absorbs Cameron

Schlumberger Limited, the world’s largest oilfield services provider, and Cameron, a provider of flow equipment products, systems and services to oil, gas and process industries, have jointly announced a definitive merger agreement. According to Schlumberger, as of August 25th, 2015, the total transaction value is $14.8 billion. This is a corporate acquisition in the oilfield services sector, in which TUBACEX is increasingly supplying its tubular solutions.


KNPC awards contracts worth US$11.5bn for al-Zour refinery

TUBACEX has great expectations in the recent announcement of KNPC awarding USD$11.4 Bn to build the al-Zour oil refinery, which will be one of the largest in the Middle East with a capacity of 615,000 barrels per day. With the recent renewal of the KNPC approval, TUBACEX is ready to supply Stainless Steel Seamless Pipes, Tubes and Fittings for the new refinery and potentially to the Petrochem complex.