Vallourec SA (VLOWD.PK,VLOUF.PK), a French tubular solutions provider, said on Tuesday that it has secured two contracts to supply oil country tubular goods, or OCTG, to support the drilling works of China National Offshore Oil Corporation, or CNOOC, and PetroChina Company Limited in Iraq.
These contracts carry potential revenue of over $130 million to Vallourec.
The Group will supply carbon steel and Super-13Cr steel OCTG products with VAM premium connections.
The deliveries are scheduled throughout 2025 and 2026 to support Iraq's increasing drilling activities.
Philippe Guillemot, CEO of the Vallourec Group, said: "These contracts come in the context of recent announcements from Iraq's Ministry of Oil to increase the country's oil production capacity from 4.1M bpd in 2025 to 6M bpd in 2029."
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