VALLOUREC: Vallourec to supply the offshore Xerelete field in Brazil
Vallourec to supply the offshore Xerelete field in Brazil
Vallourec Tubos do Brasil was selected for Total's operatorship in Brazil
Belo Horizonte / Boulogne-Billancourt, 14 October 2013 - Vallourec, world
leader in premium tubular solutions, announces that Vallourec Tubos do Brasil,
Vallourec's wholly-owned Brazilian subsidiary, has been selected to supply
premium pipes for the offshore Xerelete field in Brazil, of which Total became
an operator in June 2012. The Xerelete field is located in the Campos Basin,
around 250 kilometers off the coast of Rio de Janeiro in 2,400 m water depth.
Vallourec's products will be used in the exploration and appraisal wells for
additional oil and gas resources. Drilling operations are due to start by the
end of the year.
The tubes will be produced at Vallourec Tubos do Brasil in Belo Horizonte,
Minas Gerais. The mill successfully achieved the extensive qualification
process required by Total and is now part of its approved suppliers, for
providing OCTG^ products, such as casings, tubing and accessories with
premium connections. The choice for a local pipe supplier can be related to
Total's strategy of working with local suppliers, valuing the comprehensive
structure that the country has in the area. In addition, it speeds up the oil
and gas exploitation process, avoiding for products to have to come from
Denis Palluat de Besset, Managing Director of TOTAL E&P do Brasil declared:
"Within our strategy of developing our presence in Brazil, it was important
for us to work with a reliable, premium partner for our OCTG products. With
Vallourec Tubos do Brasil, we found the level of excellence of the Vallourec
Group, combined with the experience and proximity a local supplier can
Philippe Crouzet, Chairman of Vallourec's Management Board, added: "We are
very pleased to have been selected by Total for their operatorship in Brazil.
On top of our long-term presence in this country, the qualification and
selection of our local subsidiary recognizes the level of technological
expertise and qualified workforce that we have developed, which make us able
to fulfill the high standards required by Total in any parts of the world."
In addition to the premium products, Vallourec Tubos do Brasil will be in a
position to offerseveral kinds of services, such as storage, inspection and
preparation for use, follow-up of pipes running downhole and inspection after
the products return from the rig, ensuring greater safety and speed to Total.
This contract extends the existing cooperation between the two Groups, as
Vallourec is already supplying Total in more than 25 countries across the
 Oil Country Tubular Goods
Vallourec is a world leader in premium tubular solutions primarily serving the
energy markets, as well as other industrial applications.
With over 23,000 employees, integrated manufacturing facilities, advanced R&D
and a presence in more than 20 countries, Vallourec offers its customers
innovative global solutions to meet the energy challenges of the 21st century.
Listed on the NYSE Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and
eligible for the Deferred Settlement System (SRD), Vallourec is included in
the following indices: MSCI World Index, Euronext 100 and CAC 40.
In the United States, Vallourec has established a sponsored Level 1 American
Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY).
Parity between ADR and a Vallourec ordinary share has been set at 5:1.
For further information, please contact
Press relations Investor relations
Caroline Philips Etienne Bertrand
Tel: +33 (0)1 41 03 77 50 Tel: +33 (0)1 49 09 35 58
131014_CP Vallourec selected by Total in Brazil_pdf
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Source: VALLOUREC via Thomson Reuters ONE
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