USA: NOV Signs USD 1.5 Billion Contract to Supply Drilling Equipment for Seven Drillships

National Oilwell Varco, Inc today announced that it has signed contracts to supply drilling equipment packages for seven drillships to Estaleiro Atlantico Sul (“EAS”), including drilling riser and pressure control equipment. The value, over the term of the deliveries, is approximately $1.5 Billion.

Pete Miller, Chairman, President and CEO of National Oilwell Varco, stated “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. 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. Congratulations to our Rig Technology team in securing the largest single order in our company’s 150 year history.”

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.

Atlântico Sul Shipyard, established in November of 2005 through a partnership between the groups Camargo Corrêa, Queiroz Galvão, Samsung Heavy Industries (SHI) from South Korea, and PJMR, is the biggest and most modern naval and offshore construction and repair shipyard in the Southern hemisphere. This undertaking is considered to be a landmark in the reactivation of the shipbuilding industry of Brazil, resulting from an investment of R$ 1.4 billion, with a built-in processing capacity of the order of 160 thousand tons of steel per year.

Our company manufactures all types of carrier vessels of up to 500 thousand deadweight tons (TDW), as well as offshore platforms of the semi-submersible type, FPSO (Floating Production, Storage, and Off-loading), TLP (Tension-Leg Platforms) and SPAR, among others. We also offer a vast range of repair services for vessels and oil exploration units, taking advantage of the yard?s strategic and privileged location in relation to the global maritime carriage and the large deep water oil & gas production fields.

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Source: nov, August 15, 2011; Image:estaleiroatlanticosul