TMK (LSE:TMKS), one of the world’s leading producers of steel pipes for the oil and gas industry, today announces that it will supply Lukoil with TMK FMT premium threaded tubing for its Yuri Korchagin offshore field development in the Caspian Sea.

TMK Premium Service was preferred to other global pipe producers and won the tender conducted by Lukoil for the supply of premium tubular products for the Yuri Korchagin field in the Caspian Sea. Under the terms of the agreement, Lukoil will receive 88.9mm OD TMK FMT seamless tubing pipe of N80 grade. Shipments are scheduled to run throughout June and July 2010.

“We are now seeing the results of TMK’s strategic investment programme. Following the commissioning of state-of-the-art production facilities, the company is now well positioned to enter new end markets, such as the Caspian offshore market”, underlined Alexander Shiryaev, TMK CEO.