Vallourec Expands Its Role in TotalEnergies' Gas Project
Vallourec, a recognized leader in premium tubular solutions, is excited to announce its continued partnership with TotalEnergies. This collaboration revolves around the Associated Gas Upstream Project 2 (AGUP2), a key endeavor under TotalEnergies' Gas Growth Integrated Project. The objective is to enhance Iraq's oil and gas production capabilities, aligned with global sustainability goals.
Details of the Project
The AGUP2 aims to facilitate the drilling of 48 wells to boost oil production from the Ratawi oil field. This initiative targets a robust output of 210,000 barrels of oil per day complemented by 154 million standard cubic feet of gas daily. Additionally, it emphasizes the reduction of routine flaring, taking significant strides towards a low-carbon energy transition.
Vallourec’s Contributions
Previously, Vallourec had successfully supplied 15,000 tonnes of casing and tubing for the drilling of the initial 30 wells. In this next phase, the company will provide over 30,000 tonnes of premium tubular solutions, which will include around 3,000 tonnes of Premium Line Pipe products that feature an anti-corrosion coating, ensuring durability and reliability in harsh environments.
Statements from Leadership
Philippe Guillemot, the Group Chairman and CEO, expressed pride in the ongoing collaboration, stating, "We are honored to extend our partnership with TotalEnergies on this significant project in Iraq. Our commitment has remained steadfast since the inception of this endeavor, and we look forward to delivering high-performance, dependable solutions that empower TotalEnergies' mission in Iraq."
Overview of Vallourec
As a global leader in premium tubular solutions, Vallourec caters to the energy sector and challenging industrial applications. With a focus on oil & gas wells in extreme conditions, advanced power generation plants, and architectural projects, Vallourec drives innovation through its research and development. The company employs close to 13,000 talented individuals across over 20 countries, aiming to offer not just products but comprehensive solutions that enhance the functionality and efficiency of various projects.
Vallourec is publicly listed on Euronext in Paris under ISIN FR0013506730 with the ticker VK, and part of several financial indices including the CAC Mid 60. Additionally, in the U.S., Vallourec maintains a sponsored Level 1 American Depositary Receipt (ADR) program with a set parity of 5:1 between ADRs and ordinary shares.
Contact Information
For inquiries, please reach out to:
Investor Relations: Connor Lynagh, +1 (713) 409-7842, connor.lynagh@vallourec.com
Shareholder Relations: Toll-free: 0 800 505 110, actionnaires@vallourec.com
Press Relations: Romain Grière, +33 (0)7 86 53 17 29, romain.griere@taddeo.fr; Nicolas Escoulan, +33 (0)6 42 19 14 74, nicolas.escoulan@taddeo.fr.
Frequently Asked Questions
What is the purpose of Vallourec's collaboration with TotalEnergies?
The collaboration aims to enhance Iraq's energy production capacity while supporting sustainable practices and reducing flaring.
What products will Vallourec supply for the AGUP2 project?
Vallourec will provide over 30,000 tonnes of premium tubular solutions including casing, tubing, and anti-corrosion line pipes.
Who is leading Vallourec?
Philippe Guillemot serves as the Group Chairman and CEO of Vallourec.
What sectors does Vallourec specialize in?
Vallourec specializes in energy markets, demanding industrial applications, and innovative tubular solutions.
How can I contact Vallourec for more information?
You can reach Vallourec's investor relations or press relations through the contact information provided in this article.
