National Oilwell Varco Chosen to Supply Equipment for Drillship

National Oilwell Varco reports that its Norwegian subsidiary was chosen to provide a comprehensive package of drilling equipment, valued at over $200 million, for a drillship to be constructed in Korea. National Oilwell Norway AS entered into a contract with Samsung Heavy Industries Co., Ltd., which will fabricate the vessel for Ferncliff Drilling AS. The drillship is expected to be delivered in 2009. The package represents the largest single equipment package order the Company has ever received.

Pete Miller, Chairman, President and CEO of National Oilwell Varco, stated "National Oilwell Varco prides itself on continually improving the safety and efficiency of drilling operations for our customers, and we are pleased that Ferncliff Drilling and Samsung have selected our technology and systems for this highly advanced drillship. We continue to see strong demand for new drilling equipment."

National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.

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