VALLOUREC SECURES MAJOR CONTRACT WITH PETROBRAS
Meudon (France), September 27, 2024 - Vallourec, a world leader in premium seamless tubular solutions, announces, after a competitive process, the signing of a significant contract with Petrobras, a leading player in the global energy industry. The contract covers the supply of premium Oil Country Tubular Goods (OCTG) and accessories for the development of the technically-sophisticated Sepia 2 and Atapu 2 projects. Additionally, Vallourec will provide a comprehensive range of associated services such as Tubular Management Services, VAM Field Service, and the full suite of Vallourec's digital solutions.
This project showcases Vallourec's expertise in providing high-end steel grades (High Collapse, Sour Service, Super Martensitic) and premium connections (VAM 21 and VAM SLIJ-3) to meet the demanding technical challenges of Brazil's deepwater pre-salt fields. All products will be supplied from the Group's Brazilian plants, including large diameter seamless tubes, for which production capabilities have been reinforced by the recent investment under the New Vallourec plan. Vallourec stands apart in its ability to deliver high-value tubular solutions and services from its vertically-integrated Brazilian facilities.
This contract, which reflects the significant value added by Vallourec's premium solutions, entails deliveries of up to 25,000 tons over a three-year period.
Philippe Guillemot, Chairman of the Board of Directors, and Chief Executive Officer declared: "This contract is a clear endorsement of Vallourec's unique positioning in one of the world's most important oil-producing regions. It demonstrates the Company's commitment to the Brazilian market and its ability to deliver high value tubular solutions and services directly from its Brazilian facilities. This is a tangible result of the New Vallourec strategic plan, which has strengthened the Company's position in key markets to better serve its customers. The Company is proud to be partnering with Petrobras on this important project.”
About Vallourec
Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting-edge R&D open new technological frontiers. With close to 14,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible.
Listed on Euronext in Paris (ISIN code: FR0013506730, Ticker VK), Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service.
In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.
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