Vallourec Secures Groundbreaking Contract for Deepwater Project
Vallourec Achieves Major Contract Milestone
Vallourec, a prominent leader in the realm of premium seamless tubular solutions, recently announced a significant advancement. The company has secured a contract with TechnipFMC, marking a major step forward for Vallourec as it embarks on the Orca project, known previously as Gato do Mato. This essential deepwater development is situated within a strategic area of the Santos Basin, managed by a reputable operator.
Details of the Contract
This exciting contract encompasses the supply of over 20,000 tons of premium carbon-steel line pipes designed specifically for subsea applications. These components will be utilized for risers and flowlines, showcasing Vallourec's capacity to deliver high-quality materials under demanding conditions. The agreement also incorporates anti-corrosive and thermal insulated coating services, underscoring the comprehensive assistance Vallourec offers its partners.
Statements from Leadership
Philippe Guillemot, Chairman of the Board and CEO, elaborated on the significance of this contract, labeling the Orca project as a testament to Vallourec’s expertise in handling intricate technical challenges commonly found in offshore environments. He expressed pride in the contract's inclusion of thermal insulation features, emphasizing its importance following Vallourec's recent acquisition of Thermotite do Brasil. This move exemplifies how Vallourec's integrated offerings provide substantial advantages to its local customer base.
Strengthening Local Position
The contract not only solidifies Vallourec's position in Brazil—a market recognized for its strategic importance—but also illustrates the trust established with partners relying on the company’s exceptional industrial capabilities. Full local production, paired with a steady investment strategy over recent years, has been pivotal to Vallourec’s ongoing success and operational expansion in the region.
About Vallourec
Vallourec stands as a global frontrunner in crafting premium tubular solutions tailored for the energy sector and various industrial applications. The company caters to demands from oil and gas wells operating in harsh settings to innovative power plants and intricate architectural projects. Vallourec's commitment to pioneering developments and ongoing research and development initiatives has opened new technological pathways. With nearly 13,000 dedicated employees in over 20 countries, Vallourec prioritizes collaboration with its clients, aiming not only to deliver tubes but also to provide innovative, safe, and effective tubular solutions to enhance project feasibility.
Market Presence
Listed on Euronext in Paris under the ISIN code FR0013506730 and ticker VK, Vallourec is included in notable indices like CAC Mid 60, SBF 120, and Next 150. The company has also established a sponsored Level 1 American Depositary Receipt (ADR) program in the United States with an ISIN code of US92023R4074, where the ADR is set at a parity ratio of 5:1 compared to Vallourec's ordinary shares.
Contact Information
For any inquiries related to investor relations, please reach out to:
Investor Relations:
Connor Lynagh
Phone: +1 (713) 409-7842
Email: connor.lynagh@vallourec.com
For shareholders:
Toll-free number (from France): 0 805 65 10 10
Email: actionnaires@vallourec.com
Press Relations Contacts:
Taddeo
Romain Grière
Phone: +33 (0)7 86 53 17 29
Email: romain.griere@taddeo.fr
Nicolas Escoulan
Phone: +33 (0)6 42 19 14 74
Email: nicolas.escoulan@taddeo.fr
Frequently Asked Questions
What is the main purpose of Vallourec's recent contract?
The contract focuses on supplying line pipes for the Orca project, enhancing Vallourec's deliveries in deepwater applications.
How does the Orca project benefit Vallourec?
This project strengthens Vallourec's position in Brazil while demonstrating its capabilities in solving complex offshore challenges.
What types of materials are being supplied under this contract?
Vallourec will supply premium carbon-steel line pipes, along with anti-corrosive and thermal insulated coatings.
How many employees does Vallourec have globally?
Vallourec employs nearly 13,000 employees across more than 20 countries.
Where is Vallourec listed?
Vallourec is listed on Euronext in Paris under the ticker VK.
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