National Oilwell Varco Announces New Composite Pipe Manufacturing Facility in Saudi Arabia
December 22 2016 - 06:30AM
Business Wire
National Oilwell Varco, Inc. (NYSE: NOV) today announced that it
is expanding the operations of its Fiber Glass Systems business
unit with a new composite pipe manufacturing facility located near
the city of Dammam, Saudi Arabia.
“Our decision to localize manufacturing operations in the
Kingdom of Saudi Arabia demonstrates our commitment to provide
industry-leading products and services for our customer base in the
Middle East,” commented Clay Williams, NOV’s Chairman, President
and CEO. “We have collaborated with key regional clients who
recognize the benefits of composite line pipe in critical,
high-pressure oil and gas applications and who value NOV’s strong
regional presence.”
The facility will establish NOV as Saudi Arabia’s first local
manufacturer of high-pressure spoolable composite pipe and will
further enhance the Company’s ability to provide lightweight,
corrosion-resistant, engineered solutions from its global team of
experts supported by 12 manufacturing facilities around the
world.
The new, state-of-the-art, manufacturing complex will produce
spoolable and jointed pipe, including the flagship line of
Fiberspar™ spoolable products, STAR™ Glass Reinforced Epoxy high
pressure line pipe, and downhole tubing and casing. Operations are
expected to begin in the first quarter of 2018.
About National Oilwell Varco
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, and the provision of
oilfield services to the upstream oil and gas industry.
Cautionary Statement for the Purpose of the “Safe Harbor”
Provisions of the Private Securities Litigation Reform Act of
1995
Statements made in this press release that are forward-looking
in nature are intended to be “forward-looking statements” within
the meaning of Section 21E of the Securities Exchange Act of 1934
and may involve risks and uncertainties. These statements may
differ materially from the actual future events or results. Readers
are referred to documents filed by National Oilwell Varco with the
Securities and Exchange Commission, including the Annual Report on
Form 10-K, which identify significant risk factors which could
cause actual results to differ from those contained in the
forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20161222005145/en/
National Oilwell Varco, Inc.Investor and Media
Contact:Loren Singletary, 713-346-7807Vice President of
Investor & Industry
RelationsLoren.Singletary@nov.comorCustomer Contact:Mike
Hart, 713-634-3181Chief Sales Officer, NOV Completion &
Production SolutionsMike.Hart@nov.com
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