Vallourec Strengthens Ties with Petrobras Through New Contract
Vallourec Strengthens Ties with Petrobras Through New Contract
Vallourec, renowned for its exceptional seamless tubular solutions, is thrilled to announce its latest contract with Petrobras. This partnership symbolizes a powerful alliance in the energy sector, marking a significant achievement for Vallourec, particularly as it continues to solidify its presence in the Brazilian market.
Highlights of the New Contract
After an intense competitive bidding process, Vallourec has secured a substantial contract to supply premium Oil Country Tubular Goods (OCTG) along with various accessories. This agreement encompasses the development of two technically advanced projects: Sepia 2 and Atapu 2. With a focus on delivering high-quality products, Vallourec will also extend its expertise through an array of services including Tubular Management Services and VAM Field Service, along with integrating advanced digital solutions crafted to meet modern industry demands.
Provision of Premium Products and Services
The significance of this contract lies not only in the volume of supplies—up to 25,000 tons over three years—but also in the high-quality products sourced from Vallourec's facilities in Brazil. The supply will include high-end steel grades and premium connections, such as VAM 21 and VAM SLIJ-3, specifically designed to address the challenges of Brazil’s deepwater pre-salt oil fields.
Vallourec's Competitive Edge
Vallourec’s strategy under the New Vallourec plan has been fundamental in adapting to the evolving needs of the energy sector. The company’s recent investments have significantly bolstered production capabilities, especially regarding large diameter seamless tubes. This strategic enhancement enables Vallourec to remain a competitive player by offering unparalleled value through its vertically-integrated production approach.
Leadership Insights
Philippe Guillemot, Vallourec's Chairman and CEO, expressed optimism about this partnership, noting, “This contract endorses Vallourec’s unique positioning in one of the world's prime oil-producing areas. It emphasizes our commitment to Brazil and our capability to provide impactful solutions directly from our local facilities. This achievement is a direct outcome of our strategic efforts to enhance our market standing and customer satisfaction in key sectors.”
About Vallourec
Vallourec proudly stands as a leader in premium tubular solutions for various energy and industrial applications. Its commitment to innovation is seen through continuous research and development efforts, aiming to push technological boundaries. With a workforce of nearly 14,000 employees across more than 20 countries, Vallourec strives to deliver more than mere products; it aims to provide comprehensive, innovative solutions that cater to each project’s unique requirements.
Global Presence and Market Involvement
Listed on Euronext Paris under the ticker VK, Vallourec is an influential entity in multiple market indices, showcasing its robust connection to the global business landscape. Furthermore, the company has developed a Level 1 American Depositary Receipt (ADR) program in the U.S., appealing to a wider investor base and enhancing its international presence.
Frequently Asked Questions
1. What kind of solutions is Vallourec providing to Petrobras?
Vallourec is supplying premium Oil Country Tubular Goods (OCTG) and offering comprehensive services such as Tubular Management Services and digital solutions for Petrobras's projects.
2. How long is the contract duration with Petrobras?
The contract covers deliveries of up to 25,000 tons over a period of three years.
3. What does the New Vallourec plan entail?
The New Vallourec plan focuses on strategic investments to increase production capabilities and enhance the company's market positioning.
4. What products will Vallourec deliver for the projects?
Vallourec will provide high-end steel grades and premium connections tailored for Brazil's challenging deepwater oil fields.
5. Where are Vallourec's products manufactured for this contract?
All products will be sourced from Vallourec’s advanced facilities located in Brazil.
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