Vallourec wins two major offshore line pipe contracts for Brazil's Buzios field

Vallourec wins two major offshore line pipe contracts for Brazil's Buzios field

Meudon (France), 24 July 2023 - Vallourec has won two major orders to supply line pipes for phases 6 and 8 of the Buzios oil field development operated by Petrobras. These orders are in addition to the contract previously won for phase 7, representing a total of 48,000 tonnes of line pipe.

Located off the Brazilian coast in the pre-salt Campos Basin, Buzios is one of the world’s largest deepwater fields. It accounts for 25% of the Brazilian oil company's production alone.

The equipment ordered from Vallourec for phases 6, 7 and 8 of the project includes 346 km of subsea line pipe for the risers and flowlines in the Subsea Umbilicals Risers and Flowlines (SURF) package. These ultra-premium line pipes will be mechanically lined pipes (MLPs) with CRA (Corrosion Resistant Alloy) cladding.

Vallourec has already delivered Buzios 7. Deliveries of developments 6 and 8 are now underway and will continue until the end of 2023.

Philippe Guillemot, the Group’s Chairman and CEO commented: “These contracts strengthen Vallourec's strategic positioning in Brazil, one of our key markets. It also shows the confidence our customers have in us, particularly in the continuity of our supplies, whether they come from Germany or Brazil.”

These orders are the last to be produced in and delivered from Vallourec's plants in Germany. The optional quantities that are intended to be added as part of these three projects will be made at the Group's state-of-the-art PQF (“Premium Quality Finishing”) plant in Jeceaba (Minas Gerais).

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 the latest generation of power plants, and from daring architectural projects to ultra-high-performance mechanical equipment. True to its pioneering spirit and backed by cutting-edge R&D, Vallourec is constantly pushing back the frontiers of technology. Operating in some twenty countries, in close proximity to its customers, the Group employs almost 16,000 passionate and committed people who deliver much more than just tubes: they offer increasingly innovative, reliable and competitive solutions that make any project possible.

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 the ordinary Vallourec share is 5 to 1.

For further information, please contact:

Attachment