Drilling & production - 14 October 2016

The company believes that, the restructuring will provide the Group with a stable and sustainable capital structure, reduced cash debt service obligations and greater liquidity.

Company aims to expand beyond upstream oil and gas market.

The new plant will support Tenaris’s long-term agreement with Karachaganak Petroleum Operating (KPO), plus key operator Tengizchevroil (TCO).

Kuwait Energy holds a 60% revenue interest and is the operator of the Block 9 concession.