Corinth Pipeworks, as subcontractor of Sumitomo Corporation Europe Limited, will manufacture and supply approximately 160km of longitudinally submerged arc-welded steel
pipes (LSAW) for the development of an offshore natural gas pipeline for OMV Petrom’s Neptun Deep project in the Black Sea. A major contract valued between EUR 100 and 150 million.
The Neptun Deep Block in the Black Sea has an area of 7,500 square km and is located at a distance of about 160 km from the shore of Romania, in water depths up to 1,000 meters. Neptun Deep is the largest natural gas project in the Romanian Black Sea and the first deepwater offshore project in Romania.
[Text Box: ©OMV Petrom] The 30-inch pipeline will be manufactured at Corinth Pipeworks’ facilities and will include external anticorrosion coating and internal flow efficiency lining, applied at the same location as pipe manufacturing at Thisvi, Greece.
Corinth Pipeworks has a comprehensive portfolio of products and solutions to supply and deliver challenging, current and future offshore development projects, using the latest welded linepipe technology.
“We are particularly delighted to be awarded this major project by Sumitomo Corporation Europe Limited, a trusted partner of OMV Petrom, the largest integrated energy company in Southern and Eastern Europe”, stated Ilias Bekiros, General Manager of Corinth Pipeworks.
About OMV Petrom
OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 43 million boe (Barrel of oil equivalent) in 2022. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through approximately 780 filling stations under two brands – OMV and Petrom. OMV Petrom is a company in which Romanian shareholders hold over 42% of the shares (of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 21.7% are owned by pension funds in Romania, to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.2% stake in OMV Petrom, and the remaining 6.4% are held by other foreign investors. Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange. For more information about the company, please visit www.omvpetrom.com/en
About Sumitomo Corporation Europe Limited
Sumitomo Corporation Group conducts business activities in a wide range of industries on a global scale, with its six business units, an initiative and regional organizations all over the world working closely together. Strategically and organically integrating our robust business foundation and our diverse, high-level functions, the company creates new values by staying a step ahead in dealing with changes and transcending existing frameworks as a way to help solve social issues. For more information about the company, please visit www.sumitomocorp.com/en/europe
About Corinth Pipeworks
Corinth Pipeworks (CPW), steel pipe segment of Cenergy Holdings, is a leading steel pipe manufacturer for the global energy and construction sector. With projects executed in more than 50 countries worldwide, we develop valuable solutions, exceed our customers’ expectations whether the application is a challenging offshore subsea flow line, a high criticality onshore gas transmission pipeline, transportation of up to 100% hydrogen at high pressure pipelines. All this by combining experience, on time delivery, innovation and investments in the latest technology. For more information about our company, please visit our website at www.cpw.gr