National Oilwell Varco Contracted For Drilling Equipment For A Drill-ship
National Oilwell Varco, Incorporated (NOV), a manufacturer of oil and gas drilling equipment, said on Thursday its wholly owned subsidiary entered into a contact to provide a comprehensive package of drilling equipment for a drill-ship to be constructed in Korea.
The contract has been signed with Daewoo Shipbuilding & Marine Engineering Co., Ltd., which will fabricate the vessel for a subsidiary of Transocean, Inc. The delivery of the drill-ship is expected in 2009.
The Houston, Texas-based company said in the second quarter of this year it agreed to provide Transocean and Daewoo, under a separate contract, a similar package of equipments for the drill-ship Discoverer Clear Leader, which is also expected to be delivered in 2009.
According to the company these two packages are together worth about $280 million.
NOV is currently trading at $61.75, down $0.16 or 0.26% on a volume of 2,596,350 shares.
Copyright(c) 2006 RealTimeTraders.com