Russia’s TMK plans to invest in Saudi Arabia

Russian oil industry pipe maker TMK is ready to invest into development of oilfield service and tubular production projects in Saudi Arabia, TASS reported on Wednesday, citing chairman Dmitry Pumpyansky.

"We see serious opportunities in Saudi Arabia for ourselves. We are a longstanding partner of Saudi Aramco. We would like to deepen such cooperation and are ready to invest into creation of projects in the oilfield service sphere and the pipe industry," he said at the Russian Energy Week Forum on Wednesday.