Vallourec signs a 10-year agreement with
S
audio
HAS
ramco
for the supply of premium casing tubes and
Services
Meudon
(France),
the
20
september
20
2
2
– Vallourec, world leader in premium tubular solutions, signed a ten-year agreement with the oil company Saudi Aramco for the supply of premium casing tubes and services. The associated orders will be produced and delivered by the Vallourec plant in Saudi Arabia. This contract strengthens the relationship that already exists between the Group and the Saudi national company.
This agreement will cover part of Saudi Aramco’s requirements for premium seamless steel tubes (OCTG) for its drilling activities. It includes the supply of premium casing tubes as well as inventory management services.
As part of the iktva program (I
not-
K
indom
T
total
V
aluminum
HAS
d
), launched by Saudi Aramco, Vallourec has submitted a comprehensive plan which plays a major role, and over the long term, in the development of local production in Saudi Arabia.
This contract is based on quarterly orders during the term of the agreement. The first two orders have already been received with delivery scheduled for early 2023.
This agreement represents a major success for Vallourec in Saudi Arabia. It paves the way for a common roadmap focused on innovation, services and energy transition. It offers Vallourec Saudi Arabia solid prospects for its presence in the region.
”
With this first chord
at
long term,
saudi
Aramco
distinct
Vallourec as a strategic partner for the years to come. This is an important step in Vallourec’s long history with
saudi
Aramco
. This agreement
paves the way for collaboration
extended
e and offers concrete possibilities
to deploy
our wide range of innovative solutions
in the
R
realm
,
all in
there
strengthening our presence
.
I want to thank
saudi
Aramco
for his confidence
“, has indicated
Philippe Guillemot, Chairman of the Board of Directors and Chief Executive Officer of Vallourec.
About Vallourec
A world leader in its markets, Vallourec provides reference tubular solutions for the energy sectors and for other of the most demanding applications: from oil and gas wells in extreme conditions to the latest generation power plants, including by bold architectural projects and high-performance mechanical equipment. True to its pioneering spirit and backed by cutting-edge R&D, Vallourec continues to push back technological frontiers. Established in some twenty countries, as close as possible to its customers, the Group brings together nearly 17,000 passionate and committed employees who offer much more than tubes: they offer ever more innovative, reliable and competitive solutions, to make all possible projects.
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 level 1 sponsored American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). The parity between the ADR and the ordinary Vallourec share is 5 to 1.
For more information, please contact:
Attachment
CP_Aramco_VF_Final_200922