Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Jobs | Dining Club

Oil & Gas
Drilling & Production
Return to: EBR Home | Oil & Gas | Drilling & Production

National Oilwell Varco to acquire NKT Flexibles

EBR Staff Writer Published 03 February 2012

National Oilwell Varco has signed a definitive agreement to buy NKT Flexibles, a joint venture between NKT Holding and Subsea 7 S.A., for about $670m.

Denmark-based NKT designs and manufactures flexible pipe products and systems for the offshore oil and gas industry.

The company manufactures products associated with floating production, storage and offloading vessels and other offshore vessels, and as well as subsea production systems including flow-lines and flexible risers.

NKT recently entered into a supply framework agreement with Petrobras and has planned to build a new facility in Brazil.

The transaction is expected to close in the first half of 2012, subject to customary closing conditions, including approval from the relevant competition authorities.

Comments
Post a comment

Comments may be moderated for spam, obscenities or defamation.