(Reuters) – Vallourec announced Thursday that it has won a contract of up to a billion dollars (855.87 million euros) with the Brazilian public oil group Petrobras for the supply of OCTG products and services (Oil Country Tubular Goods) intended for offshore operations.
This contract covers the supply of carbon and stainless steel tubes as well as associated accessories, said the French group in a press release, stressing that its OCTG products and services are intended for Offshore Petrobras operations from 2026 to 2029.
This contract illustrates the success of the Vallourec investment plan in Brazil to be able to locally produce technical references which were previously imported, in particular from Germany, said the chairman of the board of directors and managing director of Vallourec, Philippe Guillemot, in Reuters.
This is the result of the group’s strategy, in the past two years, to reduce production volumes and focus on products with high added value, as part of its debt reduction plans, he added.
Last September, Vallourec signed a three -year contract with Petrobras for the supply of a maximum of 25,000 tonnes of steel and accessories for the development of sepia 2 and Atapu 2 projects.
(Written by Etienne Breban, with Alban Kacher, edited by Blandine Hénault)
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