French Company Vallourec Secures Major Contract for Oil Country Tubular Goods in Qatar

French tubular solutions supplier Vallourec has recently announced the signing of a significant contract to supply Oil Country Tubular Goods (OCTG) for drilling operations in Qatar. The contract, valued at over $50 million in potential revenue, includes the supply of carbon steel OCTG products with premium connections to support Qatar’s growing drilling activities, both onshore and offshore.

Qatar has been a key market for Vallourec, with the company’s VAM connections widely used by all operators in the region. The new contract comes at a time when Qatar is looking to ramp up its oil and liquefied natural gas (LNG) production significantly by 2030, with plans to increase oil production by 19% and LNG production by 85%.

With LNG production expected to reach about 142 million tons per annum (MTPA), the demand for drilling and infrastructure development in Qatar is set to rise. This presents Vallourec with new opportunities to further establish its presence in the region and strengthen its partnership with operators in Qatar.

Philippe Guillemot, Chairman of the Board of Directors and CEO of the Vallourec Group, expressed confidence in the company’s ability to meet the demands of the contract and support Qatar’s energy projects in the years to come. “Vallourec has been a reliable supplier to operators in Qatar for decades. This new order demonstrates our competitiveness in supplying significant quantities of premium tubes and connections. Vallourec will remain a key strategic partner in oil, gas, or carbon capture, utilization, and storage (CCUS) projects in Qatar for the coming years,” Guillemot stated.

Overall, the contract with Qatar reaffirms Vallourec’s position as a leading provider of tubular solutions for the energy industry and highlights the company’s commitment to supporting the growth and development of energy projects in key markets around the world.