National Oilwell Varco, Inc. (NYSE:NOV) announced today that it has
acquired Advanced Production and Loading PLC (“APL”), a subsidiary of BW
Offshore Limited (Oslo: BWO). APL, based in Norway, designs and
manufactures turret mooring systems and other products for Floating
Production, Storage and Offloading vessels (“FPSO’s”) and other offshore
vessels and terminals.
Pete Miller, Chairman, President and CEO of National Oilwell Varco,
remarked, “We are excited about adding APL’s technologies and business
to our own Rig Technology group’s offering in the FPSO market. We
consider the FPSO market to be the next phase of deepwater development
in the oil and gas sector, and this acquisition will help enhance our
offshore production equipment offerings. We would like to welcome the
employees of APL to the NOV family.”
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.
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 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.
National Oilwell Varco, Inc.
Clay Williams, 713-346-7606