The plant, which will produce 400,000 tons per year of seamless pipes — used in oil and gas drilling — is located in Jubail on the Gulf coast. JESCO is 51 percent owned by Saudi Industrialization and Energy Services Co. (Taqa). Taqa was established in 2003 and acts as a project developer and is involved in oil and gas exploration and drilling. The firm started trial production in December.
JESCO said in an e-mailed statement that other orders have also been placed for the United States. It did not provide further details. Taqa said in a separate statement its affiliate Saipem Taqa Al-Rushaid Fabricators Company Ltd (STAR) has completed the construction of two offshore platforms. STAR is 60 percent-owned by Taqa Al-Rushaid for Marine works co. Ltd. (TAM) while Italy’s Saipem owns the rest.
