Vallourec wins another major order from ExxonMobil Guyana
Meudon, France, 25 April 2024 - Vallourec has secured a fourth major order in the framework of the Long-Term Agreement (LTA) signed in 2021 with ExxonMobil Guyana.
Under the contract, Vallourec will deliver line pipe for ExxonMobil Guyana's deep-water Whiptail project. The Whiptail project is located in the Stabroek Block, a 26,800 km2 strategic basin located off Guyana's continental shelf, where several important discoveries have been made since 2015.
The Group will deliver over 180km of line pipe, including X80 grade (following the lots previously booked for the Uaru order). X80 is a differentiated solution developed and qualified by Vallourec's R&D teams. The X80 grade combines high strength with resistance to service conditions, making it a valuable contributor to future deeper-water developments.
Following the Yellowtail, Gas-to-Energy and Uaru orders, signed under the same LTA, the Whiptail order further strengthens Vallourec's strategic supplier relationship with ExxonMobil Guyana. With the Whiptail order, Vallourec has now secured orders for approximately 700 km of line pipe for installation offshore Guyana since December 2021.
Vallourec will serve ExxonMobil Guyana from its state-of-the-art Jeceaba (Minas Gerais) mill which combines large production capacities and premium capabilities.
Philippe Guillemot, Chairman and Chief Executive Officer of Vallourec, commented: "This significant new contract represents the fourth under the 10-year frame agreement signed three years ago with ExxonMobil Guyana. This is also the second order to include our grade X80, demonstrating Vallourec's ability to deliver solutions to the industry that are both technological and efficiency enablers. This is a new milestone in Vallourec's long history with ExxonMobil, and I would like to thank ExxonMobil once again for its confidence in Vallourec and our team for this great work".
About Vallourec
Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting-edge R&D open new technological frontiers. With close to 14,500 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible.
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 Deferred Settlement Service.
In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.
For further information, please contact:
| Investor relations Connor Lynagh Tel: +1 (713) 409-7842 connor.lynagh@vallourec.com | Press relations Héloïse Rothenbühler Tel: +33 (0) 6 45 45 19 67 heloise.rothenbuhler@vallourec.com |
| Individual shareholders Toll Free Number (from France): 0 805 65 10 10 actionnaires@vallourec.com |
