December 22, 2010 (FinancialWire) (http://www.financialwire.net/) — WSP Holdings, Ltd. (WH – NYSE), a Chinese maker of casing, tubing and drill pipes used in oil and natural gas exploration, drilling and extraction, said that its wholly-owned subsidiary, Wuxi Seamless Oil Pipes Co., Ltd., received twenty six new purchase orders for API and non-API casing pipe, API tubing pipe and line pipe from PDVSA Services, B.V., in Venezuela.

PDVSA is the state procurement office of the Venezuelan state-owned oil corporation, Petroleos de Venezuela, S.A., which constitutionally owns the country's oil reserves.

According to WSP, the new purchase orders are for a total of 36,667 tonnes of API and non-API casing pipe, 11,359 tonnes of API tubing pipe and 6,298 tonnes of line pipe worth a total of around $91.8 million.

The company said it expects to complete delivery of these orders by February 2011. These are follow-on orders to three purchase orders WSP China received from PDVSA in May 2010 for a total of 12,583 tonnes of API and non-API casing pipe and 8,399 tonnes of line pipe, the delivery of which has been substantially completed, according to WSP.

China-based WSP develops and manufactures seamless OCTG, including seamless casing, tubing and drill pipes used for on-shore and off-shore oil and gas exploration, drilling and extraction, and other pipes and connectors.

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