One of the most important issues that affects pipeline integrity is corrosion-caused metal loss. This type of defect can occur over the pipe body, seam or girth welds or even on heat affected zones. Pipeline remaining strength criterions are restricted or even prohibited for assessing corrosion defects coincident with weld regions. This present work investigated the reliability of the most common assessment criteria for corroded pipes when defects were coincident with seam weld region in submerged arc welded pipes. The tested specimens were C-Mn steel pipe, from a pipeline manufactured in the 60´s and had operated for over 30 years. Five external defects were created on five pipe specimens and pressure tested until rupture. Stress, charpy V-notch and bending tests were carried out to find the mechanical properties of the welded joints. Microstructure and chemical composition from base metal and weld metal were also analyzed. Residual stresses on welds were measured. The level 1 criterion (ASME B31G, 085dL, RPA, DNV single and PCORRC) applications have underestimated failure pressure for spherical shaped defects. On the other hand, the same criterions have overestimated failure pressure for rectangular shaped defects. The level 2 criterions (Effective Area e DNV complex geometry) application overestimated failure pressure for all 5 specimens with both spherical and rectangular shaped defects. Fracture analyses have indicated that no specimen had a toughness controlled failure. Internal pit corrosion that was found after pressure testing is recognized as the most probable cause of underestimated pressure forecasts.