NOV Announces Joint Venture with Saudi Aramco to Manufacture High-Specification Drilling Rigs and Advanced Drilling Equipment
The joint venture will be supported by a commitment from the recently
announced
“We are excited to bring together NOV’s industry-leading technology,
manufacturing expertise and rig products with Saudi Aramco’s E&P
capabilities,” commented
The memorandum of understanding, which includes a detailed commercial term sheet, remains subject to final negotiation.
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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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170522005262/en/
Source:
National Oilwell Varco, Inc.
Investor and Media Contact:
Loren
Singletary, 713-346-7807
Chief Investor & Industry Relations Officer
Loren.Singletary@nov.com
or
Customer
Contact:
Kevin Chapman, 346-223-4005
Chief Sales Officer,
NOV Rig Systems
Kevin.Chapman@nov.com