IN BRIEF: Tenaris to supply casing and tubing at BP's Tangguh UCC

Tenaris SA - Luxembourg, City-based steel pipes supplier and BP PLC - London-based oil and gas firm - Sign a four-year contract for Tenaris to supply casing and tubing, including 13Cr steel grade tubulars, along with technical support and field services at BP’s Tangguh UCC project in Papua Barat, Indonesia. The project comprises the Ubadari gas field development, enhanced gas recovery through carbon capture, utilisation and storage and onshore compression.

Tenaris managing director for Asia Pacific Liu, Jinghua Philix says: ‘This is a crucial initiative for supporting Indonesia’s energy security with lower-carbon solutions. By leveraging Tenaris’s global expertise and our strong local capabilities, we are confident that we can meet BP’s needs and help ensure the safe, compliant, smooth execution of the project. Through our participation in the Tangguh UCC Project, we also reaffirm our role as a partner in Indonesia’s energy sector, building credibility with key stakeholders while contributing to the country‘s transition toward lower-carbon energy solutions.’

Tenaris current share price: €14.96, closed down 0.4% in Milan on Thursday

12-month change: up 13%

BP current share price: 425.65 pence, closed up 1.6% in London

12-month change: up 3.7%

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