Press Release
VALLOUREC SECURES A LARGE OCTG CONTRACT IN QATAR
Meudon (France), June 19, 2025 - Vallourec, a world leader in premium seamless tubular solutions, has secured a large contract to supply Oil Country Tubular Goods (OCTG) for drilling operations in Qatar. This new contract represents over $50 million in potential revenue.
The agreement includes the supply of carbon steel OCTG products with premium connections, to be delivered in 2026 to support Qatar's increasing drilling activity both onshore and offshore.
Vallourec has a historical presence in Qatar where VAM® connections are widely used by all operators. This contract aligns with recent announcements from Qatar-based companies to increase the country's oil production by 19% and liquefied natural gas (LNG) production by 85% by 2030. Overall, LNG production will reach about 142 million tons per annum (MTPA). As such, these production increases will require additional drilling and infrastructure development, creating new opportunities for Vallourec in the next years.
Philippe Guillemot, Chairman of the Board of Directors and CEO of the Vallourec Group, commented: "Vallourec has been a reliable supplier to operators in Qatar for decades. This new order demonstrates our competitiveness in supplying significant quantities of premium tubes and connections. Vallourec will remain a key strategic partner in oil, gas or carbon capture, utilization and storage (CCUS) projects in Qatar for the coming years."
About Vallourec
Vallourec is a world leader in premium seamless 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
Individual shareholders:
Toll Free number
Press relations: Taddeo
Romain Grie`re
Tel: +33
Nicolas Escoulan
Tel: +33
Attachment
- Vallourec_Press Release_Large OCTG Contract in Qatar (https://ml-eu.globenewswire.com/Resource/Download/4f3c23ce-c41d-4a36-81f9-5b6538a31382)
