Vallourec Secures Significant Purchase Order from Wintershall Dea for Premium Tubular Solutions in the North Sea

Vallourec Secures Significant Purchase Order from Wintershall Dea for Premium Tubular Solutions in the North Sea

Meudon (France), 8 February 2024 – Vallourec, a world leader in premium steel tubular solutions, announces it has been awarded a purchase order for the supply of premium OCTG solutions with the German company Wintershall Dea as part of the long-standing partnership between the two companies.

The order includes nearly 3,000 tonnes of pipes, including a large volume of high-end CRA material (corrosion resistant alloy), connections, accessories, and associated services, for the Dvalin North deepwater gas development project in the Norwegian North Sea.

Vallourec's contribution to the Dvalin North project involves the supply of its best-in-class VAM^® 21 connections featuring the environmentally-friendly CLEANWELL^® dope-free solution. Additionally, the scope of services extends to pipe preparation and reconditioning, along with comprehensive stock management.

Production and threading will be done at Vallourec's plants in Brazil and France during 2024, with delivery to occur by year-end.

Philippe Guillemot, Chairman of the Board of Directors and Chief Executive Officer, commented: “We are delighted to be providing Wintershall Dea with our cutting-edge technology and our environmentally friendly CLEANWELL^® solution, which will reduce the total cost of the project and contribute to smooth and safe operations. The Dvalin North gas field is one of the most significant development projects on the Norwegian Shelf over the next few years, and we are pleased to have been selected to support the project’s execution. Vallourec is also supporting other major projects for Winteshall Dea such as the Maria Development and the Luna and Havstjerne CCS licenses. With this new order, we are not only strengthening this solid partnership, but also demonstrating Vallourec’s ability to deliver highly technical solutions across the world.”

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.

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