Vallourec, a global leader in premium tubular solutions for the energy industry, has announced the signing of a Memorandum of Understanding (MoU) with the Ministry of Investment of Saudi Arabia (MISA).
The MoU, signed during the French-Saudi investment forum in Paris on June 19, 2023, reflects Vallourec’s strong connection with the Kingdom, where it has been operating through its Vallourec Saudi Arabia (VSA) plant in Dammam since 2011.
Building on its recent achievements in Saudi Arabia, including a significant ten-year contract with Saudi Aramco for the supply of premium casing tubes and services, Vallourec aims to expand its activities in the country with the support of MISA.
The MoU outlines collaboration in increasing Vallourec’s local presence, implementing its latest innovations, and focusing on energy transition initiatives such as CO2 capture, utilization and storage, hydrogen storage and transport, additive manufacturing, and circular economy solutions.
Vallourec provides leading tubular solutions for the energy sector and other demanding applications: from oil and gas wells in extreme conditions to energy transition projects.
Through the acquisition of Saudi Seamless Pipes Factory Company Limited (Zamil Pipes) Vallourec strengthened its local presence in Saudi Arabia with operational heat treatment and threading facilities, with a capacity of 100,000 tonnes per year.
