France-based
pipe manufacturer
Vallourec has announced that it has renewed its main frame agreement with Brazilian national oil company Petrobras. Accordingly,
Vallourec's Brazilian subsidiary V & M do BRASIL and Petrobras have signed a five-year contract to supply Petrobras' operations with premium OCTG products, including seamless pipes, steel grades and connections using state-of-the art technology.
According to
Vallourec's statement, the products will be used for Petrobras' offshore oil and gas exploration and production wells.
Additionally, in 2013
Vallourec will open a new research and development center in Rio de Janeiro, located next to Petrobras' research center CENPES, and will expand its current research and development facilities located in Belo Horizonte, Minas Gerais.