National Oilwell Varco

Moving close to unarguably their biggest regional customer – Saudi Aramco – by setting  up base in Saudi Arabia, is proving to be an effective business strategy for oilfield services companies. National Oilwell Varco (NOV), much like its peers, recently announced it is expanding the operations of its Fiber Glass Systems business unit with a new composite pipe manufacturing facility near Dammam. The facility has established NOV as the kingdom’s first local manufacturer of high-pressure spoolable composite pipes and has enhanced the company’s ability to provide lightweight, corrosion-resistant, and engineered products. Moreover, NOV improved its standing in the regional market after winning a $45mn contract last year from Algeria’s Sonatrach for managing well operations.