Vallourec has signed a 10-year agreement with Saudi Aramco for the supply of premium casing and services. The orders will be manufactured and delivered by Vallourec’s plant in Saudi Arabia. The agreement strengthens the existing relationship between the Group and the Saudi national company. The agreement will cover part of Saudi Aramco’s needs for Premium OCTG (Oil Country Tubular Goods) solutions for its drilling operations. It includes the supply of premium casing as well as inventory management services.
As part of the iktva (In-Kingdom Total Value Add) program launched by Saudi Aramco, Vallourec has submitted a comprehensive plan that makes a significant contribution to the development of local production in Saudi Arabia over the long term. This contract is on a call-off basis, placed every quarter during the term of the agreement. The first two on-call orders have already been received, with delivery scheduled for early 2023.