Core Viewpoint - Vallourec has secured a significant contract with Shell for the supply of OCTG products and services for the Orca project in Brazil, highlighting its competitive edge in the market [1][2]. Group 1: Contract Details - The agreement involves the supply of OCTG products for Shell's offshore operations, specifically for the Orca project, with drilling expected to commence in April 2027 [2]. - The current drilling plan includes 10 wells, requiring an estimated 12,000 to 15,000 tons of pipes [2]. - The contract covers a full OCTG scope, including seamless pipes and VAM premium connections, with sizes ranging from 4.5" to 18", utilizing both carbon and stainless-steel tubulars [3]. Group 2: Value-Added Services - Vallourec will provide comprehensive value-added services, including desk engineering, material coordination, rig preparation, offshore supervision, and rig return repairs, to enhance Shell's operational efficiency [3]. Group 3: Company Insights - Philippe Guillemot, CEO of Vallourec, emphasized the company's capability to support customers across the entire value chain, reinforcing the value of VAM premium connections in Brazil [4]. - Vallourec is recognized as a leader in premium tubular solutions for energy markets and demanding industrial applications, with a strong focus on innovation and R&D [5].

Core Insights - Vallourec has been awarded a significant contract by Petrobras for the supply of OCTG products and services, potentially generating up to USD 1 billion in revenue from 2026 to 2029, marking the largest award in terms of volume and revenue since Petrobras implemented an open tender strategy [1][2]. Group 1: Contract Details - The contract encompasses the full scope of OCTG supply, including seamless pipes and VAM premium connections for offshore wells ranging from 4.5" to 18", as well as carbon and stainless-steel tubulars and related accessories [2]. - Vallourec will provide extensive value-added services both onshore and offshore, including engineering, material coordination, rig preparation, offshore supervision, and repairs, aimed at enhancing Petrobras' operational efficiency [2]. Group 2: Company Positioning - This contract reinforces Vallourec's leadership in VAM premium connections and Vallourec Tubular Services in Brazil, showcasing the company's strong market position [3]. - Philippe Guillemot, CEO of Vallourec, emphasized the company's capability to meet complex customer requirements and the importance of its long-standing partnership with Petrobras, built on trust and technical excellence [4]. Group 3: Company Overview - Vallourec is recognized as a global leader in premium tubular solutions for energy markets and industrial applications, employing nearly 14,000 people across more than 20 countries [5]. - The company focuses on delivering innovative and competitive tubular solutions, supported by advanced R&D efforts [5].

Core Viewpoint - Vallourec has secured two contracts to supply Oil Country Tubular Goods (OCTG) to CNOOC and PetroChina in Iraq, with potential revenue exceeding $130 million [1][2]. Group 1: Contracts and Deliveries - The contracts involve the supply of carbon steel and Super-13Cr steel OCTG products featuring VAM premium connections, with deliveries planned throughout 2025 and 2026 [2]. - These contracts are aimed at supporting the increasing drilling activities in Iraq, reflecting Vallourec's capability to meet the specific technical requirements of both operators [2]. Group 2: Market Context - Iraq is home to some of the largest oil reserves globally, with super-giant oil fields being developed by international oil and gas companies, leading to a rising demand for premium OCTG materials [3]. - The Iraqi Ministry of Oil has announced plans to increase the country's oil production capacity from 4.1 million barrels per day (bpd) in 2025 to 6 million bpd by 2029, indicating a growing market for Vallourec's products [4]. Group 3: Company Competitiveness - Vallourec's ability to supply significant quantities of premium materials in a short timeframe has been recognized by CNOOC and PetroChina, highlighting the company's competitiveness in the market [4]. - The VAM connections provided by Vallourec are increasingly praised for their robustness and ease of use, establishing them as a standard choice for operations in Iraq and the Middle East [4].