NOV wins $1.5B in contracts for seven drillship equipment packages

Source: NOV

National Oilwell Varco, Inc. (NYSE:NOV) has signed contracts to supply drilling equipment packages for seven drillships to Brazil's Estaleiro Atlantico Sul (EAS), including drilling riser and pressure control equipment. The value, over the term of the deliveries, is approximately $1.5 Billion. 

"We are pleased to have been selected as the drilling equipment supplier for this prominent project, and excited to work with one of Brazil's premier shipyard companies, EAS," said Pete Miller, chairman, president and CEO of National Oilwell Varco. "Brazil's extraordinary deepwater discoveries of the past several years have transformed it into one of the most significant offshore markets we serve, and one we expect to continue to grow. We are investing heavily in Brazil to manufacture more of the products and technologies National Oilwell Varco provides to our oil and gas customers, and to service the rapidly growing installed base of NOV drilling equipment in the region."

Brazilian major Petrobras (NYSE:PBR) is currently planning to build 28 ultra-deepwater drilling rigs for future exploration and development offshore Brazil.

"Congratulations to our Rig Technology team in securing the largest single order in our company's 150 year history," he added. 

National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.



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