Vallourec Awarded a Major Contract by Kuwait Oil Company

VALLOUREC
Press release
VALLOUREC AWARDED A MAJOR CONTRACT
BY KUWAIT OIL COMPANY
Meudon (France), April 28, 2025 – Vallourec, a world leader in premium seamless tubular solutions, has secured a major contract to supply Oil Country Tubular Goods (OCTG) for the drilling operations of Kuwait Oil Company (KOC). This new contract represents over $130 million in potential revenue.
This agreement includes the supply of carbon steel OCTG products with premium connections and proprietary steel grades, to be delivered in 2025 and 2026. Vallourec has been selected to supply the most technically advanced part of the tender in terms of grades and connections, including some of its high-torque flush premium connections.
Vallourec has a historical presence in Kuwait and has been a reliable supplier to KOC, developing specific products for both its offshore and onshore projects. This 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.
Philippe Guillemot, Group's Chairman and CEO declared: '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.'
About Vallourec
Vallourec is a world leader in premium seamless tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting edge R&D open new technological frontiers. With close to 13,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible.
Listed on Euronext in Paris (ISIN code: FR0013506730, Ticker VK), Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service.
In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.
For further information, please contact:
Investor relations:
Connor Lynagh
Tel: +1 (713) 409-7842
connor.lynagh@vallourec.com

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Business Wire

5 hours ago

• Business Wire

Lenovo Hybrid AI Advantage Accelerates Enterprise AI Transformation with New Services, Solutions and Platforms

RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Lenovo (HKSE: 992) (ADR: LNVGY) today expanded Lenovo Hybrid AI Advantage™ with new advisory and implementation services, industry solutions and hybrid AI platforms that deliver the modern infrastructure and full-stack capabilities essential to transforming enterprise IT for the age of AI. With the expansion, Lenovo is delivering the complete framework for enterprises to build, scale and operate AI factories built on high-performance servers with accelerated computing, networking, and partner integrations. Together, the new validated solutions, services and platforms help businesses speed the deployment of purpose-built AI across all environments while unlocking faster business value with productivity, agility and trust. According to Lenovo's Global CIO Playbook, two-thirds of organizations have yet to see ROI from AI investments while struggling to scale effectively due to training, adoption and technical gaps. In addition, as AI budgets triple to nearly 20% of IT budgets in 2025, enterprise IT must modernize with infrastructure that delivers the efficiency, performance and scalability needed to achieve ROI. 'Lenovo is leading hybrid AI with groundbreaking advancements in integrated solutions that are driving industry-wide innovation and making enterprise-level AI attainable for every business,' said Ashley Gorakhpurwalla, President, Infrastructure Solutions Group, Lenovo. 'With these solutions and trusted partnerships, Lenovo is turning AI into reality with use cases and services that have been tested and proven to drive measurable productivity gains, boost satisfaction, and unlock data for real business value faster.' Lenovo is leading this transformation with hybrid AI infrastructure, solutions and services for any workload, anytime and anywhere. Since announcing its billion-dollar investment in accelerating AI deployment for businesses around the world, Lenovo has continued with almost 40% year-over-year increase in customer adoptions worldwide 1. Lenovo Hybrid AI Advantage brings together the AI infrastructure, data, models, services and proven use cases to help businesses activate AI across their entire workforce, operations, and data footprint. With Lenovo services, AI-adoption frameworks for generative AI tools can accelerate productivity and efficiency with a 31% increase in time saved per week 2. AI-Enabling Services that Support Scalable Infrastructure Despite the rapid rise of AI in the workplace, half of employees feel they receive only moderate support for AI training 3 — a critical gap that stalls adoption and delays ROI without structured enablement. Lenovo AI Adoption and Change Management Services are tailored to help organizations assess their AI readiness, upskill their workforce, boost engagement, and maximize ROI from their enterprise systems through persona-based change management and best practices. Key applications include: Lenovo AI People Readiness Assessment: Assess employee readiness for AI transformation and identify targeted enablement strategies, personas, and high-impact use cases. Persona-Based Training & Engagement: Tailor adoption programs based on employee roles to accelerate confidence, reduce resistance, and boost engagement. Copilot Adoption: Equip employees to successfully integrate generative AI tools, like Copilot through targeted training, change planning, and productivity tracking. AI Governance & Cultural Readiness: Help leadership and teams align on responsible AI use, overcome resistance, and embed AI-friendly ways of working. ​'AI adoption demands a clear strategy, trusted expertise, and the right technology mix that can accelerate time to value. With the Lenovo Hybrid AI Advantage, we are helping customers turn AI potential into real performance gains, enabling every part of the organization to work smarter, faster, and with greater confidence,' said Ken Wong, Executive Vice President and President, Solutions and Services Group, Lenovo. With the new services, Lenovo has driven real, measurable outcomes across an extensive range of verticals while empowering teams to work confidently with AI. Recently, Lenovo accelerated a leading airline's AI-powered digital workplace transformation and increased operational efficiencies through a three-month advisory, plan and design program. Elsewhere, the services combined with Lenovo solutions are supercharging AI workflows for faster medical diagnoses, scientific discovery and manufacturing outcomes. Driving Industry Transformation with Validated, Purpose-Built AI Solutions Lenovo Hybrid AI Advantage empowers enterprises to move beyond experimentation and deliver measurable outcomes across their entire organization. To bridge the gap between AI ambition and real-world impact, businesses need trusted AI applications that address key business use cases and scale to support business workflows. Leveraging validated Lenovo AI Innovator designs with ISVs, new Lenovo Hybrid AI Advantage Solutions are easy to customize, performance-tuned and tested, delivering real business workflows and use cases on hybrid AI platforms: Hospitality with Centific AI Data Foundry and NVIDIA: Enables hotels and resorts with capabilities that boost guest loyalty, optimize efficiency, and drive profitability. These include real-time personalization, streamlined operations, and data-driven insights. Workplace Safety & PPE Compliance with Avathon Visual AI and NVIDIA: Powers real-time hazard and PPE compliance monitoring, to instantly detect safety risks, violations and hazardous behaviors. Working with existing camera infrastructure for seamless integration and deployment, the solution also automates corrective actions to prevent accidents. Retail and Smart Spaces with WaitTime and Intel: Delivers real-time crowd analytics via Edge AI-based computer vision and transforms camera feeds into instant insights that drive revenue growth and enhance guest satisfaction by up to 30% in some deployments. Quality Inspection with Trifork and NVIDIA: Delivers automated defect detection, on-device model retraining and transforms real-time sensor data into actionable insights on the factory floor. Expanded Ecosystem Delivers the Hybrid AI Factory of Modern Business The expansion builds on Lenovo partnerships with Cisco, IBM and NVIDIA, delivering new integrated solutions that accelerates global enterprise AI adoption. Built on advanced, energy-efficient AI infrastructure integrated with accelerated computing, networking, switching and software from industry-leading partners, new platforms help enterprises build, scale and operate hybrid AI factories: New Lenovo ThinkSystem SR680a V4 system: Built to unleash AI's potential by delivering massive computational performance for model development, graphical and simulation workloads across any industry. The air-cooled system features Intel Xeon 6 CPUs and eight NVIDIA Blackwell GPUs interconnected with high-speed NVIDIA NVLink for unparalleled computational power and acceleration, as well as eight NVIDIA SuperNICs and an NVIDIA BlueField-3 DPU to accelerate network connectivity, data access and secure AI workloads. The new system delivers up to 11x faster AI inferencing on large language models, as well as 7x computational capability and 4x more memory compared to previous generations. Lenovo hybrid AI platform with IBM watsonx: Is based on a new integration with IBM watsonx technologies and Lenovo ThinkSystem SR675 servers. The availability of the new validated design will help organizations unlock the power of AI and accelerate time to value. The platform delivers ready-to-deploy, high-performance AI infrastructure, Red Hat OpenShift, and NVIDIA, accelerating generative AI model development, deployment and governance. Lenovo Hybrid AI platform with Cisco: The enhanced platform will support Cisco Nexus switches with NVIDIA Spectrum-X technology for boosting enterprise AI factory deployments, enabling 1.6x faster AI network performance and efficient networking management with Cisco Nexus Dashboard in a single design. The platform supports AI use cases as new, greenfield environments or extensions of existing IT infrastructure. Built on the powerful Lenovo ThinkSystem SR675 V3 server supporting up to eight NVIDIA RTX PRO 6000 Blackwell Server Edition GPUs, NVIDIA SuperNICs, and NVIDIA BlueField-3, the platform provides enterprises with a universal data center system to power AI factories — driving the shift from CPU-based systems to efficient GPU-accelerated infrastructure. Regardless of where enterprises are on their AI journey, Lenovo Hybrid AI Advantage solutions and services help customers achieve real business outcomes using trusted and proven AI infrastructure —whether just starting, scaling, or optimizing capabilities. Lenovo's end-to-end hybrid AI portfolio heralds a more democratized and personalized turning point for AI, with integrated solutions deployed on devices, on the edge, and in the cloud. Explore more hybrid AI solutions and see how Lenovo is powering the future of modern business at About Lenovo Lenovo is a US$69 billion revenue global technology powerhouse, ranked #248 in the Fortune Global 500, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver Smarter Technology for All, Lenovo has built on its success as the world's largest PC company with a full-stack portfolio of AI-enabled, AI-ready, and AI-optimized devices (PCs, workstations, smartphones, tablets), infrastructure (server, storage, edge, high performance computing and software defined infrastructure), software, solutions, and services. Lenovo's continued investment in world-changing innovation is building a more equitable, trustworthy, and smarter future for everyone, everywhere. Lenovo is listed on the Hong Kong stock exchange under Lenovo Group Limited (HKSE: 992) (ADR: LNVGY). LENOVO and THINKSYSTEM are trademarks of Lenovo. NVIDIA and RTX are trademarks of NVIDIA Corporation, Inc. Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries. All other trademarks are the property of their respective owners. ©2025 Lenovo Group Limited. All rights reserved. 1 Based on June 2025 Lenovo analysis of internal customer order data 2 Based on internal data from Lenovo's Service Delivery team 3 McKinsey & Company, Superagency in the Workplace, Jan. 2025

Yahoo

3 days ago

• Yahoo

Stainless Steel Seamless Pipes Market - Global Forecast Report to 2030, with Case Studies of TMK Group, Gazprom, Nippon Stell, and Sandvik

Demand from the oil & gas sector is boosting market growth, with these pipes excelling in high-pressure, high-corrosion environments. Despite high manufacturing costs compared to welded pipes, stainless steel seamless pipes are key in renewable energy projects due to their durability. The Asia Pacific region leads in market share, fueled by industrialization and infrastructure projects. Key players include NIPPON STEEL, Alleima, and Vallourec. This report covers industry drivers, market trends, and competitive insights. Stainless Steel Seamless Pipes Market Dublin, June 20, 2025 (GLOBE NEWSWIRE) -- The "Stainless Steel Seamless Pipes Market by Grade (Austenitic, Ferritic, Duplex), Technology (Piercing, Extrusion), End-use Industry (Oil & Gas, Automotive & Transportation, Energy & Power, Nuclear, Green Hydrogen, Others), & Region - Global Forecast to 2030" has been added to report includes market segmentation by grade, technology, end-use industry, and region, with estimations of market value across regions. It provides a detailed analysis of key industry players in the stainless steel seamless pipes market, their business strategies, product launches, expansions, and partnerships in the stainless steel seamless pipes market. The stainless steel seamless pipes market is set to grow from USD 3.88 billion in 2025 to USD 5.15 billion by 2030, registering a CAGR of 5.8% over the forecast period. This growth is attributed to the increasing demand from the oil & gas sector, a crucial market driver. Stainless steel has replaced other materials in various industrial applications due to its superior qualities, and seamless pipes are particularly favored in high-pressure, high-temperature, and high-corrosion environments, such as exploration and drilling. High Manufacturing Costs pose a significant challenge for market growth, as the production of seamless pipes involves complex and energy-intensive processes like hot extrusion and rotary piercing. The higher expenses associated with corrosion-resistant and high-temperature stable stainless steel contribute to increased manufacturing costs, impacting price-sensitive industries and developing regions more acutely. Emerging Opportunities in Renewable Energy are paving the way for stainless steel seamless pipes. As global energy needs shift toward more sustainable sources, demand for these pipes in geothermal facilities, offshore wind structures, and hydrogen infrastructure is increasing. Their corrosion resistance and mechanical strength make them apt for these applications, creating new market avenues for manufacturers outside traditional sectors like oil and gas. Technical Challenges in large-diameter pipe production revolve around achieving uniform wall thickness and mechanical consistency. The complexities of production stages and mass production equipment management, along with stringent quality checks, escalate time and costs. Nevertheless, as demand grows in industries like petrochemicals and offshore energy, technological advancements are gradually overcoming these obstacles. Austenitic Grades' Dominance in seamless stainless steel pipes continues, credited to their exceptional corrosion resistance, high strength, and adaptability to various environments. Their utility spans industries from oil and gas to food and beverage, owing to non-magnetic properties and ease of welding, manufacturing, and installation. Asia Pacific Leadership in 2024 is driven by rapid industrialization, urban development, and major infrastructure projects in nations such as China, India, and Japan. Government investments in energy infrastructure augment the demand for robust piping systems across sectors like oil & gas and construction. The region benefits from a large manufacturing base and lower production costs, maintaining its dominance in the industry. Competitive Landscape Prominent market players include Nippon Steel (Japan), Alleima (Sweden), Vallourec (France), AMETEK, Inc. (US), JFE Steel Corporation (Japan), and Tenaris (Luxembourg), among others. The report delves into several key insights: Analysis of Key Drivers: particularly in sectors such as automotive, construction, chemicals, energy, and oil & gas. Market Penetration: Information on products offered by top market players. Product Development/Innovation: Insights into upcoming technologies and R&D activities. Market Development: Analysis of emerging markets. Market Diversification: Information on new products and recent developments. Competitive Assessment: Evaluation of market shares, strategies, and capabilities of leading players. Key Attributes: Report Attribute Details No. of Pages 311 Forecast Period 2025 - 2030 Estimated Market Value (USD) in 2025 $3.88 Billion Forecasted Market Value (USD) by 2030 $5.15 Billion Compound Annual Growth Rate 5.8% Regions Covered Global Key Topics Covered: Market Dynamics Drivers Continuous Expansion of Oil & Gas Industry Enhanced Recyclable Properties Compared to Alternative Materials Infrastructure Development and Urbanization in Emerging Economies Challenges Raw Material Price Volatility and Supply Chain Disruptions Material Yield Loss and Production Inefficiencies Opportunities Expansion into High-Performance & Specialty Alloys and Rising Demand in Hydrogen and Renewable Energy Sectors Challenges Long Sales Cycles and Certification Delays Hindering Revenue Generation China's Offloading Surplus Steel Eroding Indian Manufacturers of Market Share and Growth Case Study Analysis TMK Group's Smart Seamless Pipes for Gazprom Nippon Steel's Martensitic Stainless Steel Seamless Pipes for High-Co2 Environments Sandvik's Sanicro 35 for Refinery Heat Exchangers Company Profiles Nippon Steel Corporation Alleima Vallourec Ametek, Inc. JFE Steel Corporation Tenaris Jindal Saw Ltd. ISMT Limited Tubacex SA Centravis Tianjin Pipe Corporation Ratnamani Metals & Tubes Ltd. WSSL Venus Pipes and Tubes Zhejiang Tsingshan Steel Pipe Co. Ltd. Lalbaba Engineering Group Maxim Tubes Company Pvt. Ltd. Chandan Steel Ltd. Dmv GmbH Jiangsu Wujin Stainless Steel Pipe Group Co. Ltd. Ottoman Tubes Maruichi Stainless Tube Co. Ltd. Plymouth Tube Company Heavy Metal & Tubes (India) Pvt. Ltd. Mangalam Worldwide Limited For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Stainless Steel Seamless Pipes Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Business Insider

3 days ago

• Business Insider

Kepler Capital Reaffirms Their Hold Rating on Vallourec (0NR2)

In a report released on June 18, Kevin Roger from Kepler Capital maintained a Hold rating on Vallourec (0NR2 – Research Report), with a price target of €18.00. The company's shares closed last Wednesday at €15.45. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Roger is a 5-star analyst with an average return of 14.4% and a 64.76% success rate. Roger covers the Energy sector, focusing on stocks such as Subsea 7, Saipem SpA, and Gaztransport et technigaz. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Vallourec with a €20.00 average price target, a 29.49% upside from current levels. In a report released on June 9, Morgan Stanley also initiated coverage with a Hold rating on the stock with a €19.50 price target.