Vallourec Wins Major TotalEnergies Contract for Absheron Gas Field
VLOUF has more than doubled off its 52-week low of $7.46.
Summary
Vallourec secured a contract from TotalEnergies to supply over 16,000 tons of tubular solutions for the Absheron gas field in Azerbaijan. The scope includes premium OCTG with VAM SLIJ-3 connections, CLEANWELL dope-free coating, and approximately 159 km of anti-corrosion coated line pipe. The field is designed to produce up to 6 BCMA of gas and 47K bpd of condensate, indicating a substantial development project. This award strengthens Vallourec's backlog and positions it in a growing Caspian energy market. TotalEnergies (TTE) is the operator, but Vallourec is the direct beneficiary of the supply contract.
At the time of this announcement, VLOUF was trading at $20.55 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $5.3B. The 52-week trading range was $7.46 to $37.99. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.