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June 21, 2007

    

Metal One Corporation Awarded New Long-Term Frame Agreement with STATOIL ASA (Norway)

 

Metal One Corporation (headquartered in Minato-ku, Tokyo; President: Moriji Kanada) has been awarded, jointly with JFE Steel Corporation (headquartered in Chiyoda-ku, Tokyo; President: Hajime Bada), a 5-year (maximum 9 years) frame agreement for the supply of SAW carbon linepipes (large-diameter welded steel pipes) by Statoil ASA (Statoil), a Norwegian oil and gas company.

Statoil is Scandinavia's leading energy company. Headquartered in Norway, Statoil has a presence in more than 30 countries globally. Statoil is continuing to expand their operation area from the Norwegian continental shelf to international markets.

The large-diameter linepipes that will be supplied under the contract will be used for long-distance subsea pipelines mainly in Europe and the North Sea. For services under such severe environments, the steel pipes must possess low-temperature toughness and often require heavy wall thickness and high strength to withstand operation under high pressure.

MO's accumulated experience and reputation in the industry as a "total solution provider" for this kind of pipeline projects, JFE's capability to meet these very severe requirements, and experience in production for similar large pipeline projects in the past, has all been highly valued and lead us to achieve the award of this contract.

We, together with JFE Steel, will continue to develop and supply high-quality pipes to be used in oil and natural gas developments where a more severe environment is expected.

 
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