WSP Holdings Wins $97 Million in Orders from Venezuela and Ecuador

WSP Holdings Limited WH today announced that its wholly-owned subsidiary, Wuxi Seamless Oil Pipes Company Limited received $97 million in new orders from state-owned oil companies in Venezuela and Ecuador. WSP China received 22 new purchase orders for API and non-API casing pipe, API tubing pipe, line pipe and connectors from PDVSA Services B.V., a state-owned hydrocarbons company in Venezuela. These new purchase orders are for a total of 37,705 tonnes of API and non-API casing pipe and API tubing pipe and 4,600 tonnes of line pipe, worth approximately $81 million. Among these, non-API casing pipe accounts for $48 million, or 60% of the total. The Company expects to complete delivery of these orders by the end of September 2011.