SAO PAULO (Reuters)-Petrobras hired the Vallourec steel pipe manufacturer to support its maritime operations by 2029, the manufacturer said Thursday.
The order, which includes the provision of associated pipes and services, can generate revenues of up to $ 1 billion, the group said.
It will cover the needs of Petrobras offshore operations from 2026 to 2029.
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Vallourec CEO Philippe Guillemot said the contract illustrates the success of his investment plan in Brazil.
This allowed the company to produce locally tubes that would once have to be imported.
Over the past two years, Vallourec has reduced production volumes and has focused on high -value -added products as part of a plan to reduce its debt, he added.
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In September last year, Vallourec signed a three -year contract with Petrobras to supply up to 25,000 tons of steel tubes and accessories for the development of Projects Sepia 2 and ATAPU 2.
(Report by Alban Kacher and Mathias de Rozario)
