French provider of tubular solutions Vallourec has secured a contract with Kuwait Oil Company (KOC) for the supply of oil country tubular goods (OCTG) for drilling operations.
The contract is seen as major and represents over $130 million in potential revenue.
The agreement includes the supply of carbon steel OCTG products with premium connections and proprietary steel grades, to be delivered in 2025 and 2026, Vallourec said.
Philippe Guillemot , Vallourec Chairman and CEO, said: “Vallourec is a strong partner of KOC, and this new order demonstrates our competitiveness and ability to reliably manufacture and deliver significant quantities of premium tubes and connections. We are eager to support KOC’s upcoming needs and challenging new projects with our most technically-advanced products.”
According to the company, the contract comes in the context of Kuwait’s current plan to increase its oil production to 4 million barrels per day in 2035 and follows KOC’s issuance of a tender in September 2024 for deep drilling applications.
This announcement follows two other from this month, as Vallourec had received a notice of award to supply OCTG to Algeria’s national oil & gas company Sonatrach , as well as a contract with Allseas, described as major, for the supply of line pipes for what is said to be one of the world’s largest deepwater fields .