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| October 2015|
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Vallourec has been awarded a new order for premium drilling products
Boulogne-Billancourt, October 15, 2015
Vallourec, world leader in premium tubular solutions, has signed with Baoji Oilfield Machinery Co Ltd (BOMCO) a contract for the delivery of 12 drill strings in sour service grade (VM105 DP SSE) equipped with VAM Express® connections.
Those drill strings, which will be manufactured in Vallourec's plants in France and in the Middle East, will be delivered to Abu Dhabi starting mid- 2016 to the beginning of 2017.
The contract will give to Vallourec, and in particular to its Drilling Products division, an additional foothold in the Middle East.
Based in Baoji City in China, BOMCO is China's largest state-owned oilfield equipment manufacturer and the largest manufacturer of land rigs and mud pumps in the world.
Between 2009 and 2011, Vallourec's Drilling Products division has successfully produced 11 complete drill strings for BOMCO. In February 2014, Vallourec successfully secured an additional 16 drill strings with BOMCO.
Vallourec is the world leader in premium tubular solutions used mainly in energy markets as well as in other industrial applications.
With over 23,000 employees, integrated production units, cutting-edge R&D and a presence in more than 20 countries, Vallourec offers its clients innovative and comprehensive solutions adapted to the energy challenges of the 21st century.
Quoted on Euronext in Paris (ISIN code: FR0000120354, Ticker: VK) and eligible for the Deferred Settlement System (DSS), Vallourec is included in the following indices: the Euronext 100 and the SBF 120.
In the US, Vallourec has set up a level-1 sponsored American Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). The parity ratio between the ADR and the Vallourec ordinary share is 5:1.
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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: VALLOUREC via Globenewswire
Source: Thomson Reuters ONE
(October 15, 2015 - 2:30 AM EDT)
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