Vallourec records several major orders from Aramco
Vallourec records several major orders from Aramco
Meudon (France), 15 November 2023 - Vallourec, a world leader in premium steel tubular solutions, announces that it has won orders for premium oil country tubular goods (OCTG) from Aramco.
These orders total more than three hundred million dollars and supplement Vallourec’s recent successes in the region. They cover the supply of proprietary steel grade casing and tubing for high-pressure environments, threaded with premium VAM® connections. These orders are incremental to the volumes to be delivered under the company’s 10-year long-term agreement with Aramco.
Vallourec will handle production at several of its plants, drawing on its global industrial footprint and full range of expertise. Deliveries will take place during 2024.
Philippe Guillemot, Vallourec’s Chairman and CEO, commented: "These orders speak to Vallourec's deep relationship with Aramco and our strong brand recognition in the Kingdom. The company has been present in Saudi Arabia for over 10 years and is growing its domestic presence to meet strong local demand. We look forward to further strengthening our relationship in the years ahead."
About Vallourec
Vallourec provides benchmark tubular solutions for the energy sector and for some of the most demanding industrial applications. Its offering ranges from oil and gas wells in extreme conditions, to high-performance mechanical equipment, to solutions for the hydrogen, CCUS (Carbon Capture, Utilization and Storage), geothermal and solar markets.
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.
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