Vallourec's Major Supply Order from ADNOC Signals Growth
Vallourec's Major Supply Agreement with ADNOC
Vallourec, a global leader in premium seamless tubular solutions, has successfully secured a significant order from the Abu Dhabi National Oil Company (ADNOC). This order includes supplying over 30,000 tons of carbon steel tubulars and related accessories, prominently featuring VAM premium connections. This transaction forms part of a persistent Long-Term Agreement (LTA) for the provision of Oil Country Tubular Goods (OCTG) between the two entities.
Enhancing Oil and Gas Operations
A Comprehensive Services Suite
The agreement encompasses a comprehensive package of services, which includes VAM Field Service and advanced digital solutions aimed at optimizing installation and maintenance practices. This approach is designed to ensure that ADNOC’s oil and gas fields perform at peak efficiency, thereby supporting their operational objectives.
Global Production Capability
To fulfill delivery obligations efficiently, Vallourec will leverage its industrial sites located in Brazil, China, and Indonesia. This strategic planning ensures that the company can meet rigorous supply and delivery demands while supporting ADNOC’s ambitious goal of reaching a production capacity of 5 million barrels per day by 2027.
Commitment to Excellence
Laurent Dubedout, Senior Vice President of OCTG, Services and Accessories, expressed that, "This contract reflects Vallourec's unwavering commitment to supplying ADNOC with premium products and services. Our decades of operational excellence in the Middle East allow us to deliver state-of-the-art OCTG solutions to leading operators like ADNOC." This statement underscores Vallourec’s dedication to maintaining high standards in their offerings as they continue to evolve with the industry's demands.
About Vallourec
Vallourec stands as a prominent name in the sector, specializing in premium seamless tubular solutions aimed at various energy markets and demanding industrial applications. These applications include challenging environments found in oil and gas wells, new-generation power plants, intricate architectural projects, and high-performance mechanical equipment. Vallourec's innovative spirit combined with its extensive R&D capabilities pushes technological frontiers, ensuring they can provide not just tubes but complete solutions that are both safe and efficient.
Market Presence and Trading Information
Vallourec is publicly traded on the Euronext Paris (ISIN code: FR0013506730, Ticker VK) and is included in key indices such as the CAC Mid 60, SBF 120, and Next 150 indices. The company also offers a sponsored Level 1 American Depositary Receipt (ADR) program in the United States (ISIN code: US92023R4074, Ticker: VLOWY), with a parity set at 5:1 between ADR and a Vallourec ordinary share.
Contact Information
For further inquiries, Vallourec has designated contact points for investor relations and individual shareholders. Connor Lynagh represents investor relations and can be reached at +1 (713) 409-7842 or via email. Individual shareholders can reach out through a toll-free number provided by Vallourec for any questions or concerns.
Frequently Asked Questions
What does Vallourec's recent order from ADNOC entail?
The order consists of more than 30,000 tons of carbon steel tubulars and accessories including VAM premium connections, aimed at enhancing ADNOC's oil and gas operations.
How does Vallourec plan to fulfill this order?
Vallourec will utilize its production capacity from factories in Brazil, China, and Indonesia to meet the delivery requirements of this significant order.
What is the significance of the Long-Term Agreement (LTA) with ADNOC?
The LTA allows Vallourec to supply OCTG products consistently, ensuring a reliable partnership that supports ADNOC’s production goals.
What does Vallourec specialize in?
Vallourec specializes in premium seamless tubular solutions tailored for energy markets and demanding industrial applications, focusing on innovation and safety.
Where is Vallourec listed?
Vallourec is listed on Euronext Paris with the ticker VK and also offers a Level 1 ADR program in the United States under the ticker VLOWY.
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