VALLOUREC WINS A CONTRACT FOR THE PRINOS CO2 CARBON STORAGE PROJECT IN GREECE
VALLOUREC WINS A CONTRACT FOR THE PRINOS CO2 CARBON STORAGE PROJECT IN GREECE
Meudon (France), on September 18, 2026 – Vallourec, a world leader in premium seamless tubular solutions, announces that it has been selected by EnEarth, a subsidiary of Energean, to supply premium tubular solutions for the first phase of the Prinos CO2 Carbon Storage project in Greece. The contract covers approximately 3,000 tons of casing pipes and accessories.
Located offshore Greece, Prinos CO2 is one of Europe’s most advanced Carbon Storage projects. It aims to convert depleted oil reservoir into a permanent CO₂ storage site, with a targeted injection capacity of up to 2.8 million tons per year and a total ̶ proved plus probable ̶ storage capacity of 51.5 million tons, as per NSAI’s (Netherland, Sewell & Associates, Inc) independent Competent Person’s Report.
Recognized by the European Union as a Project of Common Interest and supported by European and Greek funding programs, Prinos CO₂ is expected to contribute to the decarbonization of industrial activities in Greece and across the wider Eastern Mediterranean region.
Under the contract, Vallourec will deliver a comprehensive package of premium tubular solutions, including seamless carbon steel and corrosion-resistant alloy (CRA) casing pipes equipped with VAM® premium connections, recognized for their superior sealing performance and reliability. These solutions are designed to ensure long-term well integrity, a critical requirement for the safe and permanent storage of CO₂. The scope also includes CLEANWELL®, Vallourec’s dope-free solution, which enhances operational efficiency while reducing environmental impact.
This award represents a significant milestone for Vallourec’s Carbon Capture and Storage business and strengthens its position as a trusted partner for carbon storage projects. It also provides a strong platform for Vallourec to support the future development phases of Prinos CO₂ and additional Carbon Capture and Storage opportunities across Europe.
Philippe Guillemot, Chairman of the Board of Directors and Chief Executive Officer commented: “We are proud to have been selected for the Prinos CO2 Carbon Storage project, one of Europe’s most advanced Carbon Capture and Storage developments. This award demonstrates the confidence placed in Vallourec’s ability to provide premium tubular solutions that meet the stringent integrity and reliability requirements of permanent CO₂ storage. It also marks an important step in the development of our Carbon Capture and Storage business and illustrates our commitment to supporting our customers in delivering strategic energy transition projects.”
Nikolas Rigas, Head of Carbon Storage in EnEarth, commented: "The Prinos CO₂ Storage project is one of the first large-scale Carbon Capture and Storage developments to be built in Europe and the first of its kind in the Eastern Mediterranean. Projects of this significance are founded on safety, reliability, and long-term integrity. As Europe accelerates its decarbonization journey, infrastructure such as Prinos will play a critical role in enabling industry to reduce emissions while remaining competitive. The selection of Vallourec reflects our commitment to partnering with world-class companies whose expertise and technology will help ensure the safe and permanent storage of CO₂ for decades to come."
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
romain.griere@taddeo.fr
Nicolas Escoulan
Tel: +33 (0)6 42 19 14 74
nicolas.escoulan@taddeo.fr
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