NOV opens second manufacturing facility in Dubai
Posted: 11 December 2007
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Drilling manufacturer and oilfield supplier National Oilwell Varco (NOV) has opened a new manufacturing and service facility in Dubai, a step to make way for its speedy future expansion in the region.
The custom built manufacturing and training facility is located in Jebel Ali Free Zone, Dubai, UAE, is the second NOV-owned facility in the area, standing witness to the rapid expansion NOV is experiencing in the area and worldwide. The group is operating in the region for 11 years.
In addition to Downhole Pumping and Supply Chain Solutions, the new facility will house MD Totco instrumentation and controls and Tuboscope pipe coating and inspection, supporting customers from sub-continent, Asia-Pacific, and the MENA.
Houston-based NOV has seen its second-quarter profit more than double as high energy prices spurred strong demand for its oil and natural gas drilling equipment earlier this year.
Profit in the quarter rose to $318.5 million, or $1.79 a diluted share, up from $147.9 million, or 84 cents a diluted share, in the same quarter a year earlier.
The expansion also cements NOV’s solid commitment to customers in providing products, services, technical support and training in the close proximity to their operations in the Eastern Hemisphere , the largest manufacturing location for Downhole Tools outside its North American base.
Fadi Michel Matta, VP Middle East & North Africa, told Pipeline that they are also considering a third facility and an immediate plan to strengthen its rig group division, claimed to have the largest rig division along with a range of product portfolio.
“NOV is commited to delivering the Right Tool, to the Right Place , at the Right Time. We knew that we had to demonstrate that commitment by investing into the dramatic expansion of both our infrastructure and our capabilities to manage and support the customers in the region,” Jeremy Thigpen, President Downhole and Pumping Solutions said.
Through the interactive training centre, NOV will introduce the latest technology in drilling equipment to local customers, These courses will enhance customer’s operational effectiveness, eliminating the need to travel outside the region. |
