News

Vallourec Announces Major OCTG Contracts with CNOOC, PetroChina

Vallourec Announces Major OCTG Contracts with CNOOC, PetroChina

Vallourec's New Contracts Boost Drilling Operations in Iraq

Vallourec, a renowned player in the field of premium seamless tubular solutions, is making waves with its latest achievement: securing two substantial contracts to supply Oil Country Tubular Goods (OCTG). These contracts engage the global giants CNOOC and PetroChina, aiming to enhance their drilling operations in Iraq and are anticipated to generate over $130 million in revenue for Vallourec.

Details of the Contracts

The newly awarded contracts involve the provision of sophisticated carbon steel and Super-13Cr steel OCTG products outfitted with VAM® premium connections. These deliveries are set to span throughout 2025 and 2026, reflecting Vallourec's commitment to support the escalating drilling activities within Iraq. The bespoke nature of this project underscores Vallourec’s proficiency in customizing solutions that meet the specific technical demands of its partners.

Meeting the Demands of a Growing Market

Iraq is home to some of the globe's most substantial oil reserves, with a multitude of super-giant oil fields that attract international oil and gas enterprises. Consequently, the need for high-quality OCTG materials is surging, as these products must measure up to the expansive scale and intricate technical requirements of both ongoing and future drilling initiatives. Vallourec's strategic positioning allows them to tap into this growing market.

Insights from the CEO

Philippe Guillemot, the Chairman of the Board and CEO of Vallourec, shared his enthusiasm about these contracts, stating his belief in Vallourec's capability to meet the time-sensitive demands of CNOOC and PetroChina. He highlighted recent announcements from Iraq's Ministry of Oil aimed at boosting the country's oil production capacity from 4.1 million barrels per day to 6 million by 2029. Guillemot noted that these contracts validate Vallourec's competitive edge in supplying premium materials quickly, with the VAM® connections being distinctly acknowledged for their robustness and ease of use across the Middle East.

About Vallourec

Vallourec stands out as a global leader in the field of premium seamless tubular solutions tailored for energy markets as well as for strict industrial applications like oil and gas wells located in challenging environments. The company also supplies materials for innovative power plants, demanding architectural designs, and advanced mechanical equipment. With a workforce composed of approximately 13,000 dedicated professionals across more than 20 countries, Vallourec is committed to going beyond mere product provision; instead, the company focuses on delivering innovative, safe, and cost-effective tubular solutions to ensure project success.

Commitment to Excellence

Listed on Euronext Paris with the ticker VK, Vallourec is part of multiple indices, including CAC Mid 60 and SBF 120. They actively engage in developing new technologies as part of their research and development efforts, showcasing a pioneering spirit that drives them to explore new frontiers in the energy sector.

Contact Information

For further inquiries, Vallourec encourages interested parties to reach out to the following contacts:

Investor relations:
Connor Lynagh
Tel: +1 (713) 409-7842
Contact: connor.lynagh@vallourec.com

Individual shareholders:
Toll Free number: 0 805 65 10 10
Contact: actionnaires@vallourec.com

Press relations:
Romain Grière
Tel: +33 (0)7 86 53 17 29
Contact: romain.griere@taddeo.fr
Nicolas Escoulan
Tel: +33 (0)6 42 19 14 74
Contact: nicolas.escoulan@taddeo.fr

Frequently Asked Questions

What are the main highlights of the recent Vallourec contracts?

Vallourec has secured contracts worth over $130 million to supply OCTG to CNOOC and PetroChina for operations in Iraq.

What types of products will Vallourec supply under these contracts?

Vallourec will provide carbon steel and Super-13Cr steel OCTG products with VAM® premium connections.

When are the deliveries scheduled to occur?

Deliveries are planned to take place throughout 2025 and 2026.

Why is Iraq important for Vallourec?

Iraq contains some of the world's largest oil reserves, driving demand for premium OCTG materials for ongoing drilling projects.

How can investors get in touch with Vallourec?

Investors can contact Vallourec through their investor relations representative, Connor Lynagh, via email or phone.

About The Author

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.

Top 10 Most Recent News Articles

HSBC Unveils $1B Tender Offer to Manage Capital Base

Updated Category News Views 102

HSBC's Strategic Capital Maneuver Alright, let's chew on this one: HSBC's out to repurchase up to a cool billion bucks worth of its own security paper. We're talking about the $3 billion, 6% Perpetual Subordinated Contingent Convertible Securities, which can be called up as soon as May 2027. Now, they're not going all-in—the offer is capped at $1 billion, though the...

Continue Reading
NACCO Navigates Strong 2026 Q3, Faces Solar Cost Hurdles

Updated Category News Views 44

Rolling With NACCO's Financial Punches Well, folks, when it rains, it pours—numbers that is. NACCO Industries just laid out their Q3 results for all to gawk at, and it's a mixed bag of triumphs and tussles. You got a gross profit of $11.8 million, a sweet 18% jump on the same quarter last year. Now, you're talking about revenue muscle, and there it is. Income before...

Continue Reading
Construction Partners' Georgia Move Bolsters Growth

Updated Category News Views 157

CPI's Strategic Expansion into Georgia Here's an acquisition to keep your eye on: Construction Partners, Inc. (NASDAQ: ROAD), also known in the corridors of trading as CPI, is making a move that many of us in the business have been anticipating for some time. They’ve wrapped up the acquisition of Piedmont Paving, Inc., a Newnan, Georgia-based company. Now, for most...

Continue Reading
International Book Launch Celebrates Chinese Garden Art

Updated Category News Views 103

Book Celebrates the Harmony of Nature and Culture The dusty pages of history crack open yet again, but this time with an aromatic whiff of oriental garden artistry. Some might say books and gardens don't share much beyond paper, mulch, and soil. But hold tight. This isn't just any old launch—it's the Harmony Between the Universe: International Perspectives on the Lion...

Continue Reading
LIME Faces Investigation Amid Earnings Shortfall

Updated Category News Views 73

Financial Miss Spurs Investigation When you've been in this racket as long as I have, you learn that missing consensus earnings even by a few cents can stir up a financial hornet's nest. That's precisely where Neutron Holdings Inc., better known as Lime, finds itself. With their third-quarter earnings slipping two cents below expectation, at $0.63 against a $0.66 to $0.68...

Continue Reading
Atlas Ocean Expands with New Epic Journeys for 2027-28

Updated Category News Views 67

Atlas Ocean Voyages' Grand Plans Anyone who's been sailing this rocky market sea long enough knows there’s no better place to gauge the winds than from a cozy captain's chair—so picture this: Atlas Ocean Voyages just dropped a 2027-28 roadmap that’s more of an atlas in its own right. We’re talking epic voyages spanning Europe, the Med, and Arctic realms, all while...

Continue Reading
Utility Returns: Short-Term Savings, Long-Term Costs

Updated Category News Views 41

Crunching the Numbers on Utility Returns There's a buzz in the utility sector, and it's not just the hum of power lines—it’s all about return on equity (ROE). Concentric Energy Advisors just dropped some insights that could have us rethinking how these returns play into customer bills and utilities' financing capabilities. What's the Deal with ROE? Think of ROE like a...

Continue Reading
Vermiculus Taps New CISO Amid Index Engine Launch

Updated Category News Views 38

Vermiculus Ups Its Security Game You ever wonder why a company decides to beef up security? Well, Vermiculus ain't leaving anything to chance as they roll out new tech. They've named Alexander Kilian the Chief Information Security Officer. Yep, Kilian's stepping into the ring, and no one’s treating this like a sidebar gig. This market tech outfit isn't just polishing...

Continue Reading
Cardinal Health Surges with Increased EPS Outlook

Updated Category News Views 99

Cardinal Health's Towering Numbers and Raised Outlook Holy moly, Cardinal Health is strutting out of the gate like they mean business. Their first quarter for fiscal year 2027 showed revenue hitting a hefty $67.5 billion—up 5% from last year. If you're holding NYSE:CAH, you might be grinning ear to ear right now. Cardinal didn’t just squeeze out more revenue; they saw...

Continue Reading
Admetec Shines Bright with New High-Magnification Headlights

Updated Category News Views 80

Admetec's Leap into Advanced Optical Solutions In the world of optical magnification, getting the right balance of visibility and comfort hasn't always been a straightforward journey. Now, Admetec, coming out of Haifa, Israel, is throwing a game-changer into the mix with their announcement of the Butterfly EVO+ and Orchid+ series. These ain't just any old headlights;...

Continue Reading

Top 5 Most Recently Viewed Articles

Understanding Market Sentiment for SBA Communications Corp

Updated Category News Views 212

Exploring the Market Sentiment for SBA Communications Corp SBA Communications Corp (NYSE: SBAC) has recently shown a notable shift in its short interest. The percentage of shares sold short as a part of the float has decreased by 15.04% since the last report. Recent data reveals that there are currently 2.02 million shares sold short, representing 2.26% of all regular...

Continue Reading
VAST Data and Equinix Unite to Advance AI Infrastructure Solutions

Updated Category News Views 166

VAST Data and Equinix teamed up back in 2024, shaking things up in the tech landscape with their ambitious push into AI solutions. Traders watched closely as these two heavyweights aimed to create a next-gen infrastructure for AI applications that leveraged VAST’s innovative data platform alongside NVIDIA's high-octane DGX systems. The scene was electric, but let’s...

Continue Reading
BingX Launches Perpetual Trading on TradingView for Users

Updated Category News Views 245

BingX Unveils Perpetual Trading on TradingView BingX, a leading global cryptocurrency exchange, is thrilled to announce the introduction of perpetual trading on TradingView, a renowned platform recognized for its advanced charting and analytical capabilities. This innovative feature seamlessly combines BingX's robust trading infrastructure with TradingView's exceptional...

Continue Reading
Predictions for DocuSign's Earnings Growth and Analyst Insights

Updated Category News Views 61

DocuSign’s Upcoming Earnings Report: What to Expect DocuSign, Inc. (NASDAQ: DOCU) is preparing to release its earnings report for the second quarter shortly. Analysts anticipate that the company will report earnings of 80 cents per share, which is an increase from last year's earnings of 72 cents per share. Additionally, revenue is expected to be around $727.36 million....

Continue Reading
Frontline Education and Vanco Enhance Partnership with RevTrak

Updated Category News Views 155

Frontline Education and Vanco Strengthen Partnership with RevTrak Frontline Education, a leading provider of administrative software for K-12 schools, and Vanco, a top fintech company known for its integrated software and payment technology, have announced an exciting expansion of their partnership. This enhancement builds on their successful collaboration and now...

Continue Reading