Vallourec Strengthens Its Role in TotalEnergies' Iraq Project
Vallourec, recognized globally for its premium tubular solutions, has achieved a significant milestone by securing another contract from TotalEnergies. This award is aimed at providing casing, tubing, and essential accessories necessary for the drilling of 48 new wells as part of the Associated Gas Upstream Project 2 (AGUP2), a crucial segment of the broader Gas Growth Integrated Project (GGIP) spearheaded by TotalEnergies in Iraq, in collaboration with the Basra Oil Company and Qatar Energy.
The AGUP2 initiative endeavors to efficiently harness oil and associated gas from the Ratawi oil field. The project is set to elevate production capacity to an impressive 210,000 barrels of oil per day and 154 million standard cubic feet of gas daily. A central goal of AGUP2 is to phase out routine gas flaring and actively support Iraq's transition to low-carbon energy solutions.
Gas Growth Integrated Project: A Multi-Faceted Approach
The Gas Growth Integrated Project is pivotal for enhancing Iraq’s natural resource management, ultimately bolstering the country’s electricity generation capabilities. This comprehensive project embodies a four-pronged strategy: recovering gas that is currently wasted through flaring at three southern oil fields, redeveloping the Ratawi oil field, establishing a solar farm with a capacity of 1 GWac (1.25GWp), and constructing a seawater treatment facility.
Previously, Vallourec had a successful engagement in providing approximately 15,000 tonnes of casing and tubing, characterized by VAM® connections, for the drilling of the initial 30 wells. In this new phase, Vallourec is poised to deliver over 30,000 tonnes of premium tubular solutions, which will notably include around 3,000 tonnes of Premium Line Pipe products enhanced with corrosion-resistant coatings.
Leadership Insights on the Partnership
Philippe Guillemot, Group Chairman and CEO of Vallourec, expressed enthusiasm regarding this ongoing partnership with TotalEnergies, stating, "We are proud to continue our collaboration with TotalEnergies on this flagship project in Iraq. Since the beginning of the project, Vallourec has been fully committed to supporting TotalEnergies. This new phase confirms the strength of our long-standing partnership and our ability to deliver high-performance, reliable tubular solutions."
About Vallourec: Innovating Tubular Solutions Globally
Vallourec stands as a premier provider of premium tubular solutions tailored for energy sectors and demanding industrial applications. Their solutions cater to the complex requirements of oil and gas wells, high-efficiency power plants, intricate architectural projects, and advanced mechanical equipment. Vallourec's commitment to innovation and rigorous research and development pushes the boundaries of technology, allowing them to provide more than just tubes; they offer robust, safe, and competitive solutions to facilitate successful projects.
With a dedicated team of approximately 13,000 employees across over 20 countries, Vallourec collaborates closely with clients to ensure the delivery of effective tubular solutions. The company is publicly traded on the Paris Euronext under the ISIN code FR0013506730 and Ticker VK. Additionally, Vallourec is represented among various indices, including the CAC Mid 60 and SBF 120, and offers a Level 1 American Depositary Receipt (ADR) program in the United States.
Contact Information for Further Inquiries
If you require more information, please reach out to:
Investor Relations
Connor Lynagh
Tel: +1 (713) 409-7842
Email: connor.lynagh@vallourec.com
Individual Shareholder Relations
Toll-free number: 0 800 505 110
Email: actionnaires@vallourec.com
Press Relations
Romain Grière
Tel: +33 (0)7 86 53 17 29
Email: romain.griere@taddeo.fr
Nicolas Escoulan
Tel: +33 (0)6 42 19 14 74
Email: nicolas.escoulan@taddeo.fr
Frequently Asked Questions
What is the purpose of the Gas Growth Integrated Project?
The project aims to enhance Iraq's natural resources management, increase oil and gas production, and support the country’s transition to low-carbon energy.
How many wells is Vallourec supplying solutions for?
Vallourec is providing its solutions for the drilling of 48 new wells as part of the project.
What materials is Vallourec supplying for this project?
Vallourec will deliver casing, tubing, and tubular accessories including premium solutions with advanced corrosion protection.
Who are the partners involved in this project?
The project involves collaboration between TotalEnergies, Basra Oil Company, and Qatar Energy.
Where can I find more information about Vallourec's offerings?
More information can be found on Vallourec's official website and through their investor relations contact.
