Efforts to Expand Demand for Oilfield Tubing
Kanematsu previously sold oilfield tubing through Steel Service Oilfield Tubular (SSOT), a group company for sales of oilfield tubing, to U.S.-based major oil companies. In 2012, it acquired Benoit Machine LLC (Benoit), an oilfield tubing business company in North America, jointly with a leading Japan-based steel manufacturer, and has constructed a value chain for the manufacture, processing and sales of the oilfield tubing business.
In recent years, attention has been paid to non-conventional resources such as shale gas and shale oil, and the oilfield tubing market is expected to expand further.
The Kanematsu Group intends to enhance its value chain to respond to the growing demand for shale gas, shale oil, and deep-water/ultra-deep water oil drilling.