National Oilwell Varco Completes Soil Recovery Acquisition

National Oilwell Varco has acquired 100 percent of the outstanding shares of Soil Recovery A/S from Kommunekemi A/S. Terms of the acquisition were not disclosed.

Based in Denmark, Soil Recovery manufactures and leases its proprietary Soil Recovery Unit--which is used to process drilled cuttings for final disposal--under operating agreements in key oilfield markets such as The Netherlands, Azerbaijan, Angola, and Nigeria. Soil Recovery also operates its own drilled cuttings processing facility in Denmark and supports an installed base of SRU's in the UK, Norway, and Kazakhstan. It employs 62 people and will be operated as part of the National Oilwell Varco's Brandt Environmental Division.

"National Oilwell Varco has always maintained a strong commitment to our industry's desire to operate in an environmentally sound manner," said Pete Miller, National Oilwell Varco's chairman, president, and CEO. "Our acquisition of Soil Recovery strengthens this commitment on a global basis. In addition to all sectors of the North Sea, we now have cuttings processing operations in the Caspian, North and West Africa, and South America; and we see opportunities to expand globally."