Japanese JFE Steel Corp. said that the company has signed a 5 years contract with Norwegian Oil and Gas Company Statoil ASA.

The company will supply SAW largest diameter welded steel pipes and 12 percent chromium seamless line pipe for Statoil ASA's benthal construction.

Statoil ASA expects to purchase 900,000 tons seamless pipe within the following two or three years.

The contract will be still deferrable in five years later and the longest validity will be 9 years.