Vallourec records several major orders
from Aramco
Meudon (France), November 15, 2023
– Vallourec, a world leader in premium steel tubular solutions, announces that it has won orders for premium OCTG tubes from Aramco.
These orders, for a total amount of more than three hundred million dollars, complement Vallourec’s recent successes in the region. They cover the supply of proprietary steel grade casing and casing tubes intended for a high pressure environment, threaded with premium VAM connections
®
. These orders are in addition to the volumes to be delivered under the ten-year long-term contract concluded by Vallourec with Aramco.
The Group will mobilize several of its factories to ensure production, leveraging its global industrial footprint and all of its know-how. Deliveries will take place during 2024.
Philippe Guillemot, Chairman and CEO of the Group, commented:
“These orders demonstrate the close relationship that Vallourec maintains with Aramco and the strong reputation of our brand in the Kingdom. The Group has been present in Saudi Arabia for more than 10 years and is strengthening its presence to meet strong local demand. We look forward to further strengthening our relationship in the years to come.
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About Vallourec
Vallourec provides benchmark tubular solutions for the energy sectors and other of the most demanding industrial applications. Its offering extends from oil and gas wells in extreme conditions, to high-performance mechanical equipment, including solutions for the hydrogen, CCUS (Carbon Capture, Utilization and Storage) markets, geothermal and solar.
Listed on Euronext in Paris (ISIN code: FR0013506730, Ticker VK), Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for the Deferred Settlement Service (SRD).
In the United States, Vallourec has set up a sponsored level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). The parity between the ADR and the Vallourec ordinary share is 5 to 1.
For more information, please contact:
Attachment
Press release_VallourecxAramco_15112023