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06.10.2021

TMK and Weatherford will cooperate in the provision of oilfield services in Russian Federation and internationally

Pipe Metallurgical Company, (“TMK”), and “Weatherford” LLC, a subsidiary of “Weatherford International plc” (“Weatherford”) entered into a framework agreement of a technological cooperation for the provision of services in the oil and gas industry for Russian and foreign markets. The document was signed by the parties at the St. Petersburg International Gas Forum (SPIGF-2021).

The Agreement documents the intention of both parties to work together in jointly determining applications and solutions that can benefit from the introduction of new technologies for oilfield services. TMK can inform partners about its technical and operational tasks and make recommendations on the use of Weatherford technologies. In turn, Weatherford can offer its technological solutions as part of the implementation of various TMK projects. The cooperation will be managed by a technological coordinating committee, which will include representatives from both companies.

“Cooperation between technology leaders is one of the key trends in the development of global business. To enhance our competitive advantage and build our competencies, we are joining forces with Weatherford in the oil and gas services sector, a sector where TMK already has a strong position. The high technological level and colossal experience of Weatherford will allow us to expand the portfolio of TMK projects. Customers will have access to a wider range of premium oilfield services rendered in accordance with the best international safety and environmental standards,” said Sergei Chikalov, TMK’s First Deputy General Director for Operations and Development.

“Weatherford’s has roots in tubular running services and it continues to be the global leader in this domain with technological advancements including autonomous connection make-up provided by Vero® automated connection integrity. This alliance will allow customers to be confident that their premium connections are made-up to the highest standard for longer lasting and consequently more profitable wells. We are excited about a long and prosperous working relationship with an organization that shares the vision to advance technologically and provide continuously improved products and services to their customers.” stated Fayaz Kamalov, Weatherford’s Vice President of Russia, Turkmenistan and Kazakhstan.

TMK and Weatherford will cooperate in the provision of oilfield services in Russian Federation and internationally

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