NEWS RELEASE
Long-term OCTG supply contract with Aker BP renewed -Strengthen strategic partnership through stable supply of OCTG-
Jul. 10, 2024
Nippon Steel Corporation
Nippon Steel Corporation (Nippon Steel) ,together with Sumitomo Corporation, has renewed a long- term contract with the Norwegian energy company Aker BP ASA (Aker BP) for the supply of OCTG for a maximum period of 2034.
Aker BP, established in 2016, is one of the largest independent energy companies in Europe with the largest production volume and is engaged in oil and gas exploration, development and production of oil and gas fields on the Norwegian continental shelf. Since the establishment of Aker BP, Nippon Steel Corporation has been supplying OCTG used for oil and gas development through Sumitomo Corporation. The renewal of the contract is attributed to the high evaluation of Sumitomo Corporation and Nippon Steel's stable supply of high-performance OCTG, product development tailored to customer needs, and total solutions through supply chain management.
Through the renewal of the long-term supply contract with Aker BP, Nippon Steel will further expand its strategic partnership with Aker BP and its group companies and will also consider supplying steel
products in the areas of decarbonization, hydrogen and ammonia business.
Nippon Steel and Sumitomo Corporation will contribute through the stable supply of OCTG to securing energy security in the face of rising geopolitical risks and to the realization of a decarbonized society.
https://www.nipponsteel.com/en/contact/