Vallourec to support multi-energy project for TotalEnergies in Iraq
| | Press release |
Vallourec to support multi-energy project
for TotalEnergies in Iraq
Meudon, 16 January 2024 – Vallourec, a world leader in premium tubular solutions, has signed a contract with TotalEnergies for the supply of casing and tubing and associated accessories for the first phase of the Gas Growth Integrated Project (GGIP) in Iraq.
The GGIP includes the recovery of gas currently being flared in the Basra region to supply power plants, along with the construction of a seawater treatment unit and a 1GW solar power plant. This multi-energy approach will enable the country’s natural resources to be developed sustainably.
Vallourec has been a supplier to TotalEnergies for many years, drawing on its long experience in Iraq to provide its long-standing partner with a competitive premium offering that covers all its OCTG needs.
For the first thirty wells in the project, Vallourec will supply in aggregate 15,000 tonnes of VAM® of various tubes and connections, using the highest quality steel grades, from its Brazilian and European plants. Deliveries will start in 2024.
Group Chairman and CEO Philippe Guillemot commented: “We are delighted to have been chosen by TotalEnergies for the first stage of this flagship project in Iraq. In addition to the drilling, our team is fully committed to working with our long-standing partner to support all future phases of this multi-energy project.”
About Vallourec
Vallourec provides benchmark tubular solutions for the energy sector and for some of the most demanding industrial applications. Its offer ranges from oil and gas wells in extreme conditions to high-performance mechanical equipment, as well as solutions for the hydrogen, CCUS (Carbon Capture, Utilization and Storage), geothermal and solar energy markets.
Listed on Euronext Paris (ISIN code: FR0013506730, Ticker VK), Vallourec features on the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for the Service de Règlement Différé (SRD, “Deferred Settlement Service”).
In the United States, Vallourec has set up a sponsored level 1 American Depositary Receipt (ADR) programme (ISIN code: US92023R4074, Ticker: VLOWY). The parity rate between the ADR and an ordinary Vallourec share is 5 to 1.
For further information, please contact:
| Investor Relations Connor Lynagh Tel: +1 (713) 409-7842 | Press relations Héloïse Rothenbühler Tel.: +33 (0)6 45 45 19 67 |
| Individual shareholder relations Toll-free number: 0 800 505 110 |
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