Vallourec Awarded a Major Contract by Kuwait Oil Company
28 Avril 2025 - 7:30AM
Press release
VALLOUREC AWARDED A MAJOR
CONTRACT BY KUWAIT OIL COMPANY
Meudon (France), April 28, 2025
– Vallourec, a world leader in premium seamless tubular
solutions, has secured a major contract to supply Oil Country
Tubular Goods (OCTG) for the drilling operations of Kuwait Oil
Company (KOC). This new contract represents over $130 million in
potential revenue.
This agreement includes the supply of carbon
steel OCTG products with premium connections and proprietary steel
grades, to be delivered in 2025 and 2026. Vallourec has been
selected to supply the most technically advanced part of the tender
in terms of grades and connections, including some of its
high-torque flush premium connections.
Vallourec has a historical presence in Kuwait
and has been a reliable supplier to KOC, developing specific
products for both its offshore and onshore projects. This contract
comes in the context of Kuwait's current plan to increase its oil
production to 4 million barrels per day in 2035 and follows KOC's
issuance of a tender in September 2024 for deep drilling
applications.
Philippe Guillemot, Group's Chairman and
CEO declared: “Vallourec is a strong partner of KOC, and
this new order demonstrates our competitiveness and ability to
reliably manufacture and deliver significant quantities of premium
tubes and connections. We are eager to support KOC’s upcoming needs
and challenging new projects with our most technically-advanced
products.”
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 LynaghTel: +1 (713)
409-7842connor.lynagh@vallourec.com
Individual shareholders:Toll Free number (From
France): 0 805 65 10 10actionnaires@vallourec.com
Press relations: TaddeoRomain GrièreTel: +33
(0)7 86 53 17 29romain.griere@taddeo.fr
Nicolas EscoulanTel: +33 (0)6 42 19 14
74nicolas.escoulan@taddeo.fr
- Vallourec_Press Release_KOC
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