Vallourec signs a major contract for the supply of tubes and services to Petrobras

Vallourec signs a major contract for the supply
of tubes and services to Petrobras 

Meudon (France), June 6, 2024 – Vallourec, a world leader in premium tubular solutions, has secured a contract to supply Petrobras with 1,800 tonnes of premium carbon steel tubes with Glass Reinforced Epoxy liners (GRE technology), together with the associated top-of-the-range CRA (Corrosion Resistant Alloy) accessories. These products will be used in various offshore development wells, mainly off the Brazilian coastline in the Campos pre-salt basin. This contract is in addition to the 3-year long-term agreement with Petrobras for the supply of OCTG tubes announced in January 2023.

The agreement between Vallourec and Petrobras also includes a wide range of services, such as stock management, rig preparation and transportation, as well as comprehensive integrated field services: receiving, inspecting and supervising pipe strings’ installation.

The finished products will be manufactured at Vallourec's Brazilian plant in Barreiro (Minas Gerais). The GRE technology offered in partnership with Tuboscope NOV, a global product and service provider to the energy industry specialized in the supply of equipment and technology to the oil and gas sector, has been tried and tested in numerous applications across the world.

For Philippe Guillemot, Chief Executive Officer of Vallourec, “We are delighted to have won this new contract, which includes local content and the supply of high-technology solutions. This order demonstrates once again that our teams are fully committed to supporting our long-standing partner in its developments. Vallourec thus confirms its determination to strengthen its position as Petrobras' main OCTG supplier and trustworthy partner”.

About Vallourec

Vallourec provides benchmark tubular solutions for the energy sector and for some of the most demanding industrial applications. Its offer ranges from oil and gas wells in extreme conditions to high-performance mechanical equipment, as well as solutions for the hydrogen, CCUS (Carbon Capture, Utilization and Storage), geothermal and solar energy markets.

Listed on Euronext Paris (ISIN code: FR0013506730, Ticker VK), Vallourec features on the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for the Service de Règlement Différé (SRD, “Deferred Settlement Service”).

In the United States, Vallourec has a sponsored Level 1 American Depository Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). The parity rate between the ADR and an ordinary Vallourec share is 5 to 1.

For further information, please contact:

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• PR Vallourec Petrobras_06062024_DEF