Vallourec Says A Major Contract Awarded By Kuwait Oil Company

(RTTNews) - Vallourec SA (VLOWD.PK, VLOUF.PK) announced on Monday that it has secured an important contract to supply Oil Country Tubular Goods or OCTG for the drilling operations of the Kuwait Oil Company or KOC.

The company, a manufacturer of tubular solutions, said that the latest contract has a potential revenue of $130 million.

As per the terms of the contract, Vallourec will supply carbon steel OCTG products with top-quality connections and proprietary steel grades, to be delivered in 2025 and 2026. The company said that it was selected to supply the most technically advanced part of the tender in terms of grades and connections, which includes some of its high-torque flush premium connections.

The latest contract follows Kuwait's plan to increase its oil production to 4 million barrels per day in the year 2035.