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Vallourec signs a major long-term agreement with Petrobras for the supply of OCTG tubes















(Boursier.com) — Vallourec has signed a long-term agreement with Petrobras for the supply of OCTG tubes. The three-year agreement covers the supply of premium seamless OCTG tubes, associated accessories as well as specialized physical and digital services, representing a volume of over 110kt of products and accessories.

These products, accessories and associated services will enable Petrobras to pursue its offshore oil and gas exploration and production activities in the key Brazilian pre-salt oil region, an offshore reserve under 4,000 meters of saline and post-salt sediments. Production from this pre-salt zone is expected to represent more than 70% of Petrobras’ total production between 2023 and 2027.

This new contract with Petrobras broadens Vallourec’s scope of action, including for the first time the supply of large diameter seamless tubes, from 16 to 18 inches. These tubes, manufactured using state-of-the-art technology by the Vallourec plant in Jeceaba (Minas Gerais) in Brazil, will enable Petrobras to maximize its production. Petrobras will also rely on Vallourec’s digital solutions, in particular its Smartengo Running Expert service for complete traceability of tubes, as well as its circular economy solution for the reuse of protectors, slings and other components.

Philippe Guillemot, Chairman and Chief Executive Officer of Vallourec, commented: “I am delighted with this new agreement, which consolidates the long-standing relationship between Vallourec and Petrobras. This new contract once again demonstrates Vallourec’s ability to supply the industry of technological and effective solutions to key players in the industry. I am grateful to Petrobras for having once again trusted Vallourec for the exploitation of this strategic exploration zone.”


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