Vallourec has been awarded a contract by Abu Dhabi National Oil Company for the supply of tubing and casing, over a five year period, with a possible 2-year extension, for $900 million.
The contract covers a range of products, from standard API to high end premium OCTG for both onshore and offshore oilfields, and conventional to complex wells. In addition, Vallourec will supply a large range of “from mill to rig” services as part of its new Vallourec.smart services program.
This award represents one of the largest awards received by Vallourec to supply international markets. It evidences the successful strategy and transformation of the Group, underlining the competitiveness of its new manufacturing routes as well as its comprehensive offer of products and services.
Key data points: The growth forecast = 6.6% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities and forecasts in smart oilfield market to 2031 by component (hardware, software, and services), technology (internet of things, artificial intelligence & machine learning, cloud computing, data analytics, and automation & remote monitoring), application (upstream activities, midstream activities, and downstream activities), end use (independent oil & gas operators, national oil companies, international oil companies, service companies, government & regulatory bodies, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Download free sample pagesEdouard Guinotte, senior vice president Middle-East/Asia, said, "We are delighted that ADNOC, the national oil company of Abu Dhabi and one of our key Group customers, has renewed its confidence to Vallourec by awarding this contract and enabling Vallourec to accompany ADNOC in its long term strategy. We will contribute to ADNOC's In-Country Value Program. Our successful track records in Quality, Health & Safety, and Environment have been decisive. This contract is a new milestone in our longstanding relationship with ADNOC, to whom Vallourec will provide added value, with increased flexibility and technical expertise included within our new services and digital offer Vallourec.smart."
Tubing and casing will be supplied from Vallourec's mills in Europe, South America and China.
Deliveries are expected to start from second half of 2020.
