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Last updated : 15/09/2026 - 16h08
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Vallourec signs new agreement with Aramco for OCTG pipe supply

The French tubular solutions manufacturer has formalized a new agreement with Saudi company Aramco, extending a commercial relationship established in 1962. The signing took place during the recent Franco-Saudi investment roundtable organized in Paris.


Vallourec signs new agreement with Aramco for OCTG pipe supply

An agreement signed during the Franco-Saudi roundtable in Paris

Vallourec announced on September 9, 2026 the signing of an agreement with Aramco aimed at strengthening their commercial, industrial and technological ties. The agreement covers the supply of Oil Country Tubular Goods (OCTG), pipes intended for oil and gas wells.

The signing took place as part of the French-Saudi Investment Roundtable Meeting held in Paris. Vallourec, whose headquarters is located in Meudon, presents this agreement as a continuation of a business relationship established with Aramco since 1962.

Nearly 65 years of relationship and a local presence in Dammam

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The relationship between the two groups dates back to 1962, the year of the conclusion of a first agreement for the supply of the first generations of VAM connections intended for OCTG pipes. In 2011, Vallourec created Vallourec Saudi Arabia (VSA) and inaugurated its industrial site in Dammam, enabling heat treatment of pipes and threading of VAM connections locally.

In 2022, Vallourec had signed a long-term agreement with Aramco for the supply of premium OCTG pipes manufactured locally. In 2023, the group was recognized as part of the Aramco Local Manufacturers Quality Excellence Awards, in the category "Best Improved Quality Performance".

Guillemot discusses current logistical constraints

Philippe Guillemot, Chairman and Chief Executive Officer of Vallourec, indicated that this agreement reflects "mutual trust" between the two groups and strengthens their ties. He added that the group's local industrial presence ensures the security of supply to the Kingdom, "despite current logistical constraints".

Vallourec states that it is continuing its investments in Saudi Arabia, particularly through R&D projects and the expansion of its local production capacities, including for the exploitation of unconventional resources.



Sector Métaux et mines Acier / sidérurgie


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Context

Period
  • Period: S1 2026
Key reported figures
  • Revenue: 1 860 millions de dollars
  • Quarterly revenue: 1 860 millions de dollars
  • Revenue growth: -8 %
  • EBITDA: 409,4 millions de dollars
  • EBITDA margin: 22 %
  • Net income: 131,5 millions de dollars
  • Free cash flow: 303 millions de dollars
  • -183,1 millions de dollars
Risks mentioned
  • Baisse de 15 % des volumes vendus de Tubes au premier semestre 2026
  • RBE Mines & Forêts en recul à 71 M$ contre 107 M$, effets de change défavorables du réal
  • Fermeture du détroit d'Ormuz affectant les délais de livraison à l'international
Opportunities identified
  • RBE du segment Tubes en hausse à 372 M$ grâce aux prix et au mix produit
  • Position de liquidité très solide de 2,0 milliards de dollars au 30 juin 2026
  • Produit d'environ 307 M€ encaissé le 8 juillet 2026 après exercice des bons de souscription
Outlook / guidance
  • Expected EBITDA: 190 millions de dollars

The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.

Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.

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