“This is yet another example of how the oil and natural gas industry is one of the only industries in the world creating significant jobs,” Terry said. “The oil and natural gas industry continues to be Oklahoma's most vibrant industry and will remain the backbone of the state's economy.
“Continued investment in the nation's oil and natural gas industry shows a long-term commitment for America to reach energy independence and Oklahoma will play a key part in that.”
Borusan Mannesmann has been in business for more than 50 years, growing into one of the leading pipe manufacturers in the world. It can produce up to 1 million tons of pipe a year.
The company has become one of the largest international suppliers to the U.S. oil and natural gas industry over the past three years, doubling its exports to $184 million in 2012.
Borusan Mannesmann is looking to establish itself as a local manufacturer to be closer to its U.S. customers.
The company's planned plant is designed to produce the thick-walled and high-strength pipes suitable for state-of-the-art, advanced tubular technology used in shale natural gas production.
It will be built on nearly 125 acres of land once a site is chosen.
“We are now becoming the first Turkish company to invest in the steel pipe sector in the United States with this venture,” Ugur said. “We have a strategic and long-term view of the American market due to its size and quality approach.
“Favorable changes to the energy policies in the United States, as well as the advancements in the shale gas technology, were the factors that hastened our investment decision at this time of global recession.”