SANDVIKEN, Sweden, Oct. 24, 2017 /PRNewswire/ -- Sandvik has signed a contract for the supply of stainless steel tubes required for 250 kilometers of umbilicals, linking a subsea development to an existing offshore platform. The contract value is approximately 700 MSEK and deliveries will take place from the end of 2017 and during first half of 2018.
"We are proud to have been selected as the umbilical tube supplier for this prestigious contract which confirms our position as the leading producer of steel tubes for umbilicals," says Michael Andersson, Head of Product Area Tube within Sandvik Materials Technology.
Umbilical systems are connections used to transport energy, data and liquids between oil and gas installations on the seafloor to offshore facilities or platforms.
The parties have agreed to not disclose the name of the project or customer at this point.
The order is booked during the fourth quarter 2017.
Stockholm, 24 October 2017
Sandvik AB
For further information please contact:
Ann-Sofie Nordh
Vice President Investor Relations
Phone: +46-8-456-1494
Pär Altan
Vice President External Communications
Phone: +46-70-616-2024
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