Vallourec Secures Significant Contract for Offshore Operations
Exciting New Developments for Vallourec
Meudon (France) – Vallourec, an industry leader renowned for its premium seamless tubular solutions, has successfully achieved a groundbreaking contract with Allseas to supply line pipes for the Búzios 10 offshore project. This project, situated in one of the most significant deepwater fields controlled by Petrobras, is set to propel Vallourec's advancements in the energy sector.
About Búzios Offshore Field
Búzios, off the coast of Rio de Janeiro, stands as a beacon in the world of offshore oil production, recognized as one of the largest deepwater fields globally. This field plays a crucial role in Brazil's oil industry. With plans in place to launch five additional operational units by 2028, production levels are anticipated to rise dramatically, affirming the field's strategic value in the Brazilian market.
Contract Details
The new contract is impressive in scale, encompassing approximately 18,000 tons of subsea seamless premium carbon steel line pipe, specifically designed for risers and flowlines. Additionally, there is an optional capacity of nearly 5,000 tons included in the agreement. This substantial contract underscores Vallourec's commitment to fulfilling the high standards expected in this demanding market.
Innovative Pipe Navigator Solution
Central to the project is Vallourec's Pipe Navigator solution, a revolutionary digital platform that enables immediate access to essential contractual documents, data, and analysis related to their line pipe activities. The production of these pipes will take place at Vallourec’s state-of-the-art facility in Jeceaba, which lies in Minas Gerais, Brazil. This approach not only supports local content requirements but also demonstrates a commitment to reducing carbon emissions during production.
Strategic Vision and Leadership
Philippe Guillemot, the Group's Chairman and CEO, expressed his enthusiasm regarding this contract, stating, “This agreement strengthens our strategic position in Brazil, a vital market for complex offshore projects. It highlights our commitment to delivering premium tubular solutions manufactured entirely in Brazil. Importantly, it reaffirms our investment strategy over the last few years, aiming to boost our industrial performance and meet our customers' stringent requirements.”
About Vallourec
Founded as a pioneer in premium tubular solutions, Vallourec excels in the energy sector and in demanding industrial applications. Their innovative technologies serve various industries, from oil and gas wells in challenging environments to advanced mechanical equipment and architectural ventures. With a workforce of approximately 13,000 skilled employees across 20 countries, Vallourec aims to provide more than just products; they offer comprehensive solutions, ensuring safe, competitive, and smart tubular options for diverse projects.
Stock Listing Information
Vallourec is publicly traded on Euronext in Paris under the ISIN code FR0013506730, with the ticker symbol VK. Furthermore, Vallourec features in prominent indices such as the CAC Mid 60 and SBF 120, highlighting its established presence in the market.
Investor and Shareholder Relations
For those seeking further information about Vallourec, please reach out to:
Investor relations:
Connor Lynagh
Tel: +1 (713) 409-7842
connor.lynagh@vallourec.com
Individual shareholders:
For inquiries, please call our toll-free number in France: 0 805 65 10 10 or email actionnaires@vallourec.com.
Press relations:
Romain Grière
Tel: +33 (0)7 86 53 17 29
romain.griere@taddeo.fr
Nicolas Escoulan
Tel: +33 (0)6 42 19 14 74
nicolas.escoulan@taddeo.fr
Frequently Asked Questions
What is Vallourec's primary business focus?
Vallourec specializes in providing premium tubular solutions for the energy sector, including oil and gas applications.
What recent contract has Vallourec secured?
Vallourec has secured a contract with Allseas to supply line pipes for the Búzios 10 offshore project in Brazil.
What are the environmental considerations for Vallourec?
The construction of line pipes will be executed at Vallourec's facility in Brazil to reduce carbon emissions and support local content.
Who leads Vallourec?
The company is headed by Philippe Guillemot, its Chairman and CEO, who emphasizes strategic growth in key markets.
Where is Vallourec listed?
Vallourec is listed on Euronext in Paris under the ticker VK.
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