Vallourec wins a new 5-year contract
to provide premium solutions to Equinor in Brazil
Meudon (France), June 17, 2024 - Vallourec, world leader in premium seamless tubular solutions, announces the signature of a 5-year contract with Equinor in Brazil for the turnkey supply of premium tubes and connections, accessories, and services. Equinor, a global energy giant, is one of the largest oil producers in Brazil.
Vallourec low-carbon high performance OCTG solutions will contribute to the development of the Bacalhau and Raia fields operated in the pre-salt, as well as the Peregrino field in the post-salt, while contributing to Equinor's Energy Transition Plan to reach net zero by 2050.
The contract also includes innovative digital solutions, as well as Vallourec's full set of Tubular Management Services (TMS). These services will increase efficiencies of onshore and offshore operations and reduce the total cost of ownership for Equinor.
Vallourec's strategic premium hub in Brazil, comprising the Barreiro and Jeceaba (Minas Gerais) production plants, and the Vallourec Tubular Solutions (VTS) integrated services centre in Macae, will handle all Equinor's needs featuring a high degree of local content and an optimized supply chain.
Bertrand Frischmann, Chief Operating Officer of the Americas and member of Vallourec's Executive Committee, commented, "Vallourec has been a supplier of Equinor for over 10 years, thanks to its expertise and high value-added products. Our complete OCTG offer will allow Equinor to operate demanding fields in the pre-salt, underlining our level of excellence in Brazil."
First product deliveries are expected in the second half of 2025.
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 15,000 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 |
