Vallourec

Vallourec Overview

Company Headquarters: Paris, France

Founded: 1899

Workforce: ~19,000

Company Working: Vallourec is one of the leading suppliers of premium tubular solutions for end-use industries such as power, oil & gas, automobile, construction, and petrochemicals. It operates through three business segments, namely, oil & gas and petrochemicals, industry, and power generation. The company provides OCTG under the oil & gas and petrochemicals segment. Some of the other products offered by the company under this segment are drilling products, surf, offshore, and onshore line pipes, hydrocarbon processing tubes, and fittings. Furthermore, it manufactures a wide range of products for the oil & gas industry including seamless tubes, line pipes, and premium connections for drilling operations, which can withstand extreme operating conditions such as high temperature, high pressure, and corrosive environments.

Vallourec has a presence in more than 20 countries, including the US, Germany, Brazil, China, Saudi Arabia, Mexico, Nigeria, and South Africa. It has six research & development centers across the US, Brazil, and France. Vallourec Changzhou Co., Ltd (China), Valinox Nucléaire (France), Vallourec Tube-Alloy, LLC (US), and Vallourec Umbilicals (France) are some of the company’s key subsidiaries.

Strategy

Vallourec focuses on enhancing its business operations through contracts and agreements worldwide. For instance, in September 2015, it signed a contract with Hess Corporation (US) to supply 14,000 tons of premium tubes for the stampede project in the Gulf of Mexico. Additionally, the company also acquired a stake of 70.07% in Anhui Tianda Oil Pipe Company Limited (China) to become a prominent manufacturer and supplier in Asia-Pacific and the Middle East. Therefore, using this inorganic growth strategy, it increased its presence in the global oil country tubular goods (OCTG) market

Company Snapshot

$643.25M

Revenue

19,000

Employees

1899

Founded

Paris, France

Headquarters

SWOT Analysis

Strengths

Focus on seeking opportunities to enhance presence in developing countries

Weaknesses

Declining investments in R&D

Opportunities

Increasing application in renewable energy industry

Threats

Cyclical nature of OCTG market

Key Developments

Date	Approach	Development
March 2019	Contract and Agreement	Vallourec signed a contract with PTT Exploration & Production PLC (Thailand) to supply 3,000 tons of OCTG for the company’s M9 West exploration well in Myanmar. This helped diversify the company’s product portfolio in Asia-Pacific and the Middle East.
March 2019	Product Development	Vallourec developed an online sales platform, Smartengo, to supply OCTG threaded seamless tubes products for the oil & gas industry. This development enabled it to provide better services to its customers by reducing time and enhancing the ease of use of its products
December 2017	Contract and Agreement	Vallourec signed a contract with National Oilwell Varco (US) to supply drilling products worth USD 63 million. This helped expand its business operations in the US
September 2017	Contract and Agreement	Vallourec signed a contract with Badr El Din Petroleum Company (Egypt), a joint venture of Shell and the Egyptian General Petroleum Corporation, to supply seamless carbon steel tubes for 60–70 gas wells for its the onshore project in Egypt.
May 2016	Expansion	Vallourec opened a new plant, Vallourec Tube-Alloy Asia-Pacific, in Singapore to supply OCTG to its clients in the country. This helped expand its presence in Asia-Pacific.

Product Offering

Vallourec
- Casing
- Tubing
- Drilling with casing

Financial Performance

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