According to Amac News: Tubacex called this contract with Mubadala, based on which OCTG pipes will be produced, a strategic contract.
On the other hand, Mubadala announced that the investment in Tubacex is in line with the national program of the UAE "Make in the UAE", which invites investors and innovators to participate in the country's high-tech industry and strategy.
The deal also positions Mubadala as a key player in the production and supply of CRA OCTG (Corrosion Resistant Alloy Tubing Solutions) for gas E&P, according to the company.
Tubacex said the partnership will significantly enhance local production capabilities and align seamlessly with Tubacex's contract with ADNOC. This innovation center is designed to set new standards in the OCTG sector.
According to Tubacex, the company has become a global leader in the development and production of CRA OCTG production through long-term contracts with its strategic customers. This leadership will be further strengthened by the launch of CRA OCTG's new threading and finishing plant in Abu Dhabi, the first of its kind in the region.