Vallourec wins another major order from ExxonMobil Guyana
April 25 2024 - 12:15PM
Vallourec wins another major order from ExxonMobil Guyana
Vallourec wins another major order from
ExxonMobil Guyana
Meudon, France, 25 April 2024 –
Vallourec has secured a fourth major order in the framework of the
Long-Term Agreement (LTA) signed in 2021 with ExxonMobil
Guyana.
Under the contract, Vallourec will deliver line
pipe for ExxonMobil Guyana’s deep-water Whiptail project. The
Whiptail project is located in the Stabroek Block, a 26,800 km2
strategic basin located off Guyana’s continental shelf, where
several important discoveries have been made since 2015.
The Group will deliver over 180km of line pipe,
including X80 grade (following the lots previously booked for the
Uaru order). X80 is a differentiated solution developed and
qualified by Vallourec’s R&D teams. The X80 grade combines high
strength with resistance to service conditions, making it a
valuable contributor to future deeper-water developments.
Following the Yellowtail, Gas-to-Energy and Uaru
orders, signed under the same LTA, the Whiptail order further
strengthens Vallourec’s strategic supplier relationship with
ExxonMobil Guyana. With the Whiptail order, Vallourec has now
secured orders for approximately 700 km of line pipe for
installation offshore Guyana since December 2021.
Vallourec will serve ExxonMobil Guyana from its
state-of-the-art Jeceaba (Minas Gerais) mill which combines large
production capacities and premium capabilities.
Philippe Guillemot, Chairman and Chief Executive
Officer of Vallourec, commented: “This significant new contract
represents the fourth under the 10-year frame agreement signed
three years ago with ExxonMobil Guyana. This is also the second
order to include our grade X80, demonstrating Vallourec’s ability
to deliver solutions to the industry that are both technological
and efficiency enablers. This is a new milestone in Vallourec's
long history with ExxonMobil, and I would like to thank ExxonMobil
once again for its confidence in Vallourec and our team for this
great work”.
About Vallourec
Vallourec is a world leader in premium 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 14,500 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 |
Press
relations Héloïse Rothenbühler Tel: +33 (0) 6 45 45
19 67 heloise.rothenbuhler@vallourec.com
|
Individual shareholdersToll Free Number (from
France): 0 805 65 10 10actionnaires@vallourec.com |
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