Press release
VALLOUREC WINS A NEW MAJOR LINE PIPE CONTRACT FOR BRAZIL'S BUZIOS OFFSHORE FIELD
Meudon (France), April 22, 2025 - Vallourec, a world leader in premium seamless tubular solutions, announces today that it has secured a major contract with Allseas to supply line pipes for Búzios 10 offshore project located at the Búzios field, operated by Petrobras. This contract represents nearly 18,000 tons of subsea seamless premium carbon steel line pipes, for the risers and flowlines. The contract includes an optional scope of almost 5,000 tons.
Located off the coast of Rio de Janeiro, Búzios is one of the world's largest deepwater fields. This field represents a significant part of the Brazilian oil company's operations. The field's production is expected to substantially increase as five additional units are set to commence operations by 2028.
The contract also includes Vallourec's Pipe Navigator solution, a centralized digital portal that offers instant access to up-to-date contractual documentation, data and analysis covering every aspect of its line pipe projects. The entire production will be carried out at our cutting-edge facility in Jeceaba (Minas Gerais, Brazil) to ensure high local content and a reduced carbon footprint.
Philippe Guillemot, Group's Chairman and CEO declared: "This contract reinforces our strategic positioning in Brazil, one of our key markets for complex offshore projects. It also serves as legacy to our ability to deliver premium tubular solutions, fully manufactured in Brazil. This contract also validates the investment strategy implemented over the past three years to enhance our industrial performance and meet the most demanding requirements of our customers."
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 13,000 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
Individual shareholders:
Toll Free number
Press relations: Taddeo
Romain Grière
Tel: +33
Nicolas Escoulan
Tel: +33
Attachment
- Vallourec_Press Release_Buzios (https://ml-eu.globenewswire.com/Resource/Download/09bb0531-d1af-458a-9ac7-005a15727c4e)
