VALLOUREC SECURES A MAJOR CONTRACT WITH SUBSEA7 FOR PETROBRAS’ SEPIA 2 OFFSHORE PROJECT IN BRAZIL
VALLOUREC SECURES A MAJOR CONTRACT WITH SUBSEA7 FOR PETROBRAS’ SEPIA 2 OFFSHORE PROJECT IN BRAZIL
Meudon, on September 16, 2026 – Vallourec, a world leader in premium seamless tubular solutions, announces that it has been awarded a major contract by Subsea7 for the supply of carbon steel seamless line pipe and thermal insulation coating for the Sepia 2 project, developed by Petrobras in the pre-salt Santos Basin, offshore Brazil.
This award follows the EPCI (Engineering, Procurement, Construction and Installation) contract recently secured by Subsea7 from Petrobras for the Sepia 2 project. Vallourec has secured the project’s entire carbon steel line pipe and external coating supply scope through a single integrated offer.
Under this contract, Vallourec will supply approximately 130 kilometers of rigid risers and flowlines, representing more than 15,000 tons of sour service carbon steel line pipe. The pipes will be produced at Vallourec's Jeceaba mill in Minas Gerais, Brazil, with the related thermal insulation coating applied at the Vallourec Coating Solutions plant in Serra, Espírito Santo.
The Sepia 2 project is located in ultra-deep waters of the Santos Basin, a pre-salt area approximately 280 kilometers from the Brazilian coast, and is developed by a consortium led by Petrobras. It comprises 15 wells, as well as an export pipeline connected to a new Floating Production Storage and Offloading (FPSO) vessel, to be installed in a water depth of approximately 2,170 meters.
This success highlights Vallourec's ability to meet the highly demanding thermal insulation requirements of the installation and operation phases in extreme deepwater conditions. Thanks to its advanced Syntactic Polypropylene solutions, Vallourec will stand alongside Subsea7 and Petrobras to meet these challenges throughout project execution.
Philippe Guillemot, Chairman of the Board of Directors and Chief Executive Officer of the Vallourec Group, commented: “This contract illustrates the strength of Vallourec's integrated offering, combining premium seamless line pipe and advanced thermal insulation coating. It confirms our position as a partner of choice for the most demanding pre-salt developments and showcases the excellence of our fully integrated industrial footprint in Brazil, from our Jeceaba mill to our Serra coating plant. I thank Subsea7 and Petrobras for this new mark of confidence, which rewards the dedication of our teams.”
About Vallourec
Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec’s pioneering spirit and cutting-edge R&D open new technological frontiers. With close to 13,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand- in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible. Listed on Euronext in Paris (ISIN code: FR0013506730, Ticker VK), Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service. In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.
For further information, please contact:
Investor relations:
Daniel Thomson Tel: +44(0)75 91 83 74 05 daniel.thomson@vallourec.com
Individual shareholders: Toll Free number (From France): 0 805 65 10 10 actionnaires@vallourec.com
Press relations: Taddeo
Romain Grière Tel: +33 (0) 7 86 53 17 29 Tel: + 1 718 421 8374 romain.griere@taddeo.fr
Nicolas Escoulan Tel: +33 (0)6 42 19 14 74 nicolas.escoulan@taddeo.fr
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