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Vallourec, a world leader in premium seamless tubular solutions, today announced the signing of a major contract with Allseas for the supply of pipelines for the Búzios 10 offshore project, located in the Búzios field and operated by Petrobras. This contract represents nearly 18,000 tonnes of premium seamless subsea carbon steel tubular solutions for risers and flowlines. It also includes an option for nearly 5,000 additional tonnes. Located off the coast of Rio de Janeiro, Búzios is one of the worlds largest deepwater oil fields. This field represents a significant portion of the Brazilian oil companys operations, with a significant increase in production expected with the commissioning of five additional units by 2028. The contract also includes Vallourecs Pipe Navigator solution, a centralized digital portal providing instant access to all up-to-date contract documentation, as well as data and analytics covering all aspects of pipeline projects. All production will be carried out at our state-of-the-art Jeceaba plant (Minas Gerais, Brazil) to ensure high local content and a reduced carbon footprint. Philippe Guillemot, Chairman of the Board of Directors and CEO of Vallourec, said : This contract strengthens our strategic positioning in Brazil, one of our key markets for complex offshore projects. It also demonstrates our ability to provide premium tubular solutions, entirely manufactured in Brazil. This contract also validates the investment strategy we have been pursuing for the past three years to strengthen our industrial performance and meet the highest standards of our customers. About Vallourec A world leader in its markets, Vallourec provides leading tubular solutions for the energy sector and other demanding applications: from oil and gas wells in extreme conditions to next-generation power plants, from bold architectural projects to high-performance mechanical equipment. True to its pioneering spirit and backed by cutting-edge R&D, Vallourec continues to push technological boundaries. Operating in around twenty countries, working closely with its customers, the Group brings together nearly 13,000 passionate and committed employees who offer much more than tubes: they deliver solutions that are increasingly innovative, reliable and competitive, to make every project possible. Listed on Euronext Paris (ISIN code: FR0013506730, Ticker VK), Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for the Deferred Settlement Service (SRD). In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). The parity between the ADR and the Vallourec ordinary share is 5 to 1. |
