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National Oilwell Varco
NATIONAL OILWELL VARCO
National Oilwell Varco is one of the world’s leading oilfield equipment and services providers. The company manufactures equipment and components used in the oil and gas industry. The current strength of the company is in its manufacture of hydraulic fracturing equipment and drill bits. While the company has focused much of its activity on deepwater exploration, the current trend is toward providing equipment to onshore drilling activities.
CORPORATE STRUCTURE AND OPERATIONS
National Oilwell Varco has divided its services into three different company and business operations. NOV Rig Systems designs and manufactures drilling equipment components for both offshore and onshore operations. NOV Wellbore Technologies enhances drilling performance onshore and offshore through technological efforts and drilling products. NOV Completion and Production Solutions services well intervention services providers and oil and gas producers.
The company focuses much of its activities on the prevention of blowouts for onshore and offshore rigs. The company specializes in providing oil and gas industry leaders with the hardware and equipment needed for offshore and onshore exploration and production. Safety has become an important component of the oil and gas industry, especially after the blowout which occurred in the Deepwater Horizon accident, leading to tragic consequences for workers and the environment. The company must meet very stringent safety requirements and helps ensure that workers can easily operate the equipment, in all scenarios. The company’s record in its manufacturing operations has led many leaders of the oil and gas industry to turn to National Oilwell Varco for all their equipment and hardware needs in the field.
The company recently purchased Robbins & Myers to expand its blowout preventer market. However, while the company is not actively involved in exploration and production, the company has experienced a decline in services in 2015, as demand for deepwater rigs has decreased. The company has instead begin to focus its sights on land rigs and jack-up rigs which are used in shallow water, until the oil and gas industry recovers enough to continue exploration efforts in deepwater. However, the demand for land rigs has helped boost the company’s revenue during a time when many companies experienced significant losses.
THE MALLEY LAW FIRM | HOUSTON MARITIME LAWYER
If you or a loved one have been injured in an offshore accident, do not hesitate to contact the Malley Law Firm. Tony Malley has years of experience in assisting clients with their maritime injury claims and will work tirelessly to ensure you receive the compensation you deserve for your injuries. Offshore injuries can often be severe, and require months of recovery. Contact our Texas offices today for your initial free consultation.