France-based seamless steel pipe producer Vallourec has announced that it has signed a new agreement with Saudi Arabian oil company Aramco for the supply of oil country tubular goods (OCTG), further strengthening the companies' commercial, industrial and technological cooperation.
The agreement was signed as part of the recent French-Saudi Investment Roundtable Meeting in Paris. Vallourec and Aramco have maintained a business relationship since 1962, when the companies entered into an agreement for the supply of the first generations of Vallourec's VAM connections for OCTG pipes.
Vallourec continues to expand its presence in Saudi Arabia
Vallourec has progressively expanded its presence in Saudi Arabia over nearly 65 years. In 2011, the company established Vallourec Saudi Arabia and inaugurated its industrial facility in Dammam, enabling the local heat treatment of pipes and threading of premium VAM connections. In 2022, Vallourec signed a long-term agreement with Aramco for the supply of locally manufactured premium OCTG pipes.
The company said it continues to invest in Saudi Arabia through research and development projects and initiatives aimed at expanding its production capabilities. These investments also target increased local manufacturing of products required for new developments in the country, including the development of unconventional resources.
“This agreement is a testament to the strong relationship Vallourec has built with Aramco since 1962. It reflects the mutual trust between our two leading industrial groups and further strengthens our ties,” Vallourec chairman and CEO Philippe Guillemot said. Guillemot added that the company's local industrial presence enables Vallourec to better serve Aramco and support security of supply to Saudi Arabia despite current logistical constraints.
