Saudi Steel Pipe signs SAR 300M offshore project contract

04:00 PM (Mecca time) Argaam
Saudi Steel Pipes expects the financial impact of Subsea 7 contract to show in Q4 2026

Saudi Steel Pipes expects the financial impact of Subsea 7 contract to show in Q4 2026

Saudi Steel Pipes Co. (SSP) said its subsidiary, Global Pipe Co. (GPC), signed a contract with Subsea 7 Saudi Arabia Ltd. at a total value of about SAR 300 million.

 

GPC’s financial results are consolidated in the company’s results, Saudi Steel Pipe said in a statement to Tadawul.

 

It added that the contract covers the supply of pipelines for an offshore redevelopment project.

 

The contract, which was signed today, Jan. 28, is valid for 11 months.

 

SSP expects the financial impact of the contract to be reflected in Q4 2026, noting that no related parties are involved.

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