National Oilwell Varco (NOV) has enjoyed strong growth in Singapore supported by the Asian energy hub’s rich ecosystem of companies involved in the design and manufacture of equipment and components used in oil and gas operations.
NOV expanded to 16 Singapore facilities covering three business segments. In addition to this organic growth, the American company has made acquisitions to boost business here.
In 2011, NOV acquired Singapore-based STSA, which services and refurbishes subsea blowout preventers (BOPs), as well as pressure control equipment for offshore drilling rigs in the Asia Pacific region. STSA, which boasts a world-class machine shop capable of servicing all sizes of subsea BOPs and related pressure control equipment, was acquired by NOV to enhance the latter’s offerings in the Asian BOP and pressure control equipment market.
NOV’s operations in Singapore cover manufacturing and service activities across the value chain, including BOPs and downhole equipment, drill bits, wireline and tubular products, and rig systems.
Taking advantage of Singapore’s strengths as a finance and treasury hub, NOV has also placed some Asia Pacific headquarter functions here, including finance, sales, and marketing.