Vallourec, a provider of premium seamless tubular solutions, has secured a substantial contract to supply Oil Country Tubular Goods (OCTG) to support drilling operations in Qatar.
The deal, valued at more than $50m (€43.41m), is a strategic move for Vallourec as Qatar aims to significantly increase its oil and liquefied natural gas (LNG) production by 2030.
Go deeper with GlobalData
The contract includes the provision of carbon steel OCTG products with premium connections, scheduled for delivery in 2026.
These products are essential for Qatar’s planned expansion of drilling activities both onshore and offshore.
Vallourec’s VAM connections are already widely utilised by operators in Qatar, reinforcing the company’s strong presence in the region.
This agreement is in line with Qatar’s recent declarations to boost its oil production by 19% and its LNG production by a remarkable 85% within the next eight years.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe anticipated increase in LNG production to approximately 142 million tons per annum will necessitate further drilling and infrastructure development, presenting Vallourec with additional opportunities in the coming years.
Vallourec Group chairman of the board of directors and CEO Philippe Guillemot said: “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, utilisation and storage projects in Qatar for the coming years.”
Vallourec also recently secured a contract with Kuwait Oil Company for the supply of OCTG products.
This contract, which could generate revenues exceeding $130m, calls for Vallourec to provide carbon steel OCTG products featuring high-torque flush premium connections and proprietary steel grades.
These products are set for delivery in 2025 and 2026.
