7th Feb 2008 08:58
OAO TMK07 February 2008 -------------------------------------------------------------------------------- February 7, 2008 PRESS RELEASE TMK Strengthens Market Position with Premium Connections. OAO "TMK" (TMK) plans to double its production of premium threaded tubing,casing and drill pipes to 24,000 tonnes in 2008. TMK Premium Service, a divisionof OAO TMK, focuses on strengthening the Company's position in both domestic andinternational markets in this high-tech segment. From 5,500 tonnes of premiumconnections in 2003, production grew to 12,000 tonnes in 2007 and current ordersto TMK Premium Service are already exceeding 24,000 tonnes in 2008. TMK PremiumService won the tender covering deliveries of casing pipes to Rosneft andconcluded a supply contract with Gazprom to provide the gas company with highperformance pipes. In order to meet the rising global demand for premium threaded oil and gaspipes, new threading lines are planned at TMK's Taganrog, Volzhsky and Sinarskypipe plants, effectively increasing the company's annual premium threadingcapacity to 130,000 tonnes by 2010. TMK Premium Service offers a range of patented connections, developed by TMK R&Dspecialists and designed for onshore and offshore exploration, appraisal, andproduction drilling in challenging environments. "We keep improving our market share in the high performance pipe segment withthe aim of becoming a specialised manufacturer and supplier of premium threadedpipes and connections used in the oil and gas industry", said CEO, KonstantinSemerikov. As planned, TMK announces the termination of its activities with Hydril CompanyLP and operations in the CJSC "TMK-Hydril" JV. This joint venture had notstarted operating and its windup follows significant changes in the HydrilCompany LP shareholder structure. OAO "TMK" (www.tmk-group.com) Founded in 2001, TMK (LSE: TMKS) is the largest pipe producer in Russia and oneof the three global market leaders. In 2007, TMK shipped over 3 million tonnes of pipes. TMK supplies to companiesin more than 60 countries. TMK production facilities are located in Russia and Romania: • Volzhsky Pipe Plant; • Seversky Tube Works; • Taganrog Metallurgical Works; • Sinarsky Pipe Plant; • Orsky Machine Building Plant; • Truboplast pipe coating company; • SC TMK-ARTROM SA; • SC TMK-Resita SA. For further information please contact: TMK PR Department: Sergey IlinTel: +7 495 775 7600 ext. 2149Email: [email protected] TMK IR DepartmentAlexei RatnikovTel: +7 495 775 7600 ext. 2719Email: [email protected] www.tmk-group.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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