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Stock impact report

NOV Announces Joint Venture to Provide High-Specification Drilling Rigs and Advanced Drilling Equipment

NOV Inc. (NOV) 
Last nov inc. earnings: 4/27 06:45 pm Check Earnings Report
US:NYSE Investor Relations: nov.com
Company Research Source: Business Wire
HOUSTON--(BUSINESS WIRE)-- National Oilwell Varco, Inc. (NYSE: NOV) today announced the signing of an agreement with Saudi Aramco to form a joint venture in the Kingdom of Saudi Arabia. Through its state-of-the-art manufacturing and fabrication facilities in the Kingdom and NOV’s market-leading drilling technologies, the joint venture will provide high-specification land rigs, rig and drilling equipment and offer certain aftermarket services. Additionally, the companies announced their proposed joint venture will establish an education center to train Saudi technicians in the maintenance and operation of the sophisticated drilling technology that the venture will bring to the Kingdom. The joint venture will be supported by a commitment from the previously announced Saudi Aramco Nabors Drilling Company to purchase fifty (50) onshore drilling rigs from the NOV / Saudi Aramco joint venture over a ten (10)-y Show less Read more
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