Dear customers, partners and readers,
The last 2 years have been impacted by the unprecedented collapse of oil & gas exploration and production investments. Vallourec considers this challenging context as an opportunity to carry out a significant transformation plan with a stronger focus on competitiveness, innovation and customer proximity.
The horizon of the oil & gas market, though fragile and unpredictable, is brightening, supported by oil prices on the rise and the emergence of an upturn in the United States, on the one hand, and new exploration frontiers in Africa, on the other. Vallourec is more than ever dedicated to its customers and stakeholders, with an unwavering commitment to develop high value solutions, reliability and sustainability.
Vallourec is bringing proximity to a new level, at the heart of its customer strategy. We are now deployed and organized in 4 regions, each with commercial and industrial capabilities to provide best-in-class products and services. For improved cost-effectiveness, Vallourec has rationalized production in Brazil and Europe while making the acquisition of Tianda, in China, to provide clients with a new highly competitive pipe offer at Vallourec standards, with no compromise to safety, quality and reliability. Our cost-effective measures extend to global solutions and one stop shop capabilities in the Middle East and Asia, North and South Americas, Europe and Africa. The Vallourec transformation plan increases proximity, with leaner and simpler execution, aiming to lower the total cost of ownership for our customers.
Innovation, meanwhile, remains the spearhead of Vallourec’s technological frontier. Our research and development engineers and field teams are relentlessly working to create new solutions for tomorrow’s challenges. Our experts work with you, from the earliest stages of your projects, to help you optimize product and well design, for maximum operational excellence, flow assurance and well integrity.
Vallourec is decidedly turned to the future, ready for the oil market revival. I am proud to introduce you to a selection of our recent achievements and solutions in this issue of Connection magazine.