National Oilwell Varco

What National Oilwell Varco does

NOV Inc. (NYSE: NOV), headquartered in Houston, Texas, is a global technology-driven equipment and services provider to the energy industry with roots dating to the 1840s and a combined brand history exceeding 175 years. The company operates 17 wholly-owned business units and 60+ brands spanning the full drilling and production value chain, including Rig Technologies, Subsea Production Systems, Fiber Glass Systems, Downhole Technologies, ReedHycalog, Grant Prideco, GustoMSC, Tuboscope, and Completion Tools, plus digital platforms (NOVOS, CAPstone, Max IIoT, Drilling Beliefs & Analytics, eVolve Optimization). Core offerings include drilling rig systems, top drives, drill bits, drill pipe, blowout preventers, subsea flexible pipe, composite pipeline systems, artificial lift, wellsite services, and intervention/stimulation equipment, serving onshore and offshore oil and gas operators in 57 countries with 10,000+ employees.

Revenue is generated through capital equipment sales and an extensive aftermarket parts, repair, re-certification, and digital services network, sold via direct enterprise field sales. Pricing is negotiated bilaterally for complex capital projects. Customer mix spans NOCs (Petrobras, ExxonMobil), offshore drilling contractors (Hanwha Ocean, Stena Drilling, Velesto Drilling), and E&P operators globally, with subsea flexible pipe backlog extending into 2028. Energy transition solutions (offshore wind installation vessels, geothermal, hydrogen, carbon capture) generated $310M in 2025 revenue and represent a deliberate diversification vector alongside the core oilfield franchise.

Name

National Oilwell Varco

Legal name

NOV Inc.

Website

https://nov.com

Company type

Public

Founded year

1870

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

NOV Inc. is a global manufacturer of drilling rigs, subsea production systems, drill bits, composite pipelines, and artificial lift equipment, serving oil and gas operators and offshore contractors in 57 countries through 60+ brands and digital platforms including NOVOS and Drilling Beliefs & Analytics.

Ownership category

akta.pro rank

Product category

Oilfield Equipment & Technologies

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132)

SIC

Oil & Gas Field Machinery & Equipment (3533), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

OCTG, Line Pipe & Tubular Services (Supply, Inspection, Threading) (EUALABAN)

akta.pro secondary industry

Offshore Wind & Renewable Support Vessel Construction (SOV, CTV, WTIV) (IMAJACAG)

Keywords

• Drilling equipment
• Oilfield services
• Subsea production systems
• Artificial lift systems
• Energy transition technologies

Headquarters

HQ city

Seminole

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Equipment Sales: Sale of capital equipment including drilling rigs, top drives, mud pumps, BOP systems, subsea equipment, and completion tools to oil and gas operators globally.
2. Aftermarket Products and Services: Spare parts, repair services, maintenance, and upgrade solutions for installed equipment base. Includes re-certification and re-activation services.
3. Renewable/Energy Transition Solutions: Solutions supporting offshore wind, geothermal, hydrogen, carbon capture, and other energy transition applications, generating $310 million in 2025 revenue.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

NOV manufactures and supplies capital equipment, components, and integrated technology solutions for the global energy industry. The company's offerings span complete land and offshore drilling rig systems, subsea production systems and flexible pipe, drill bits, drill pipe and tubulars, composite fiberglass pipeline systems, artificial lift equipment, wellsite services, intervention and stimulation equipment, and marine construction equipment. NOV complements its hardware portfolio with proprietary digital platforms (NOVOS, Max, CAPstone) and AI-driven optimization services (Drilling Beliefs & Analytics, eVolve) and supports customers through a global aftermarket service network.

Product overview

NOV operates as a diversified technology and equipment manufacturer serving the global energy industry with a platform-plus-modules architecture spanning multiple business units. The core offerings include Rig Technologies (land and offshore drilling rig systems with drawworks, top drives, power systems, and automation controls), Subsea Production Systems (flexible pipes and subsea equipment for deepwater applications), Fiber Glass Systems (composite pipelines and corrosion-resistant solutions), Downhole Technologies (drilling motors, jars, fishing tools, and bits), and Artificial Lift Systems (submersible pumps and production optimization). Key platforms include NOVOS (reflexive drilling automation), CAPstone (connected automation), Max (industrial IoT), Drilling Beliefs & Analytics (AI-driven optimization), and eVolve Optimization Service. The company also maintains an extensive portfolio of brands including Grant Prideco (drill pipe), ReedHycalog (drill bits), Tuboscope (inspection services), GustoMSC (offshore vessels), Bowen (fishing tools), BRANDT (fluid processing), Elmar (wireline equipment), and Completion Tools (well completion systems). Services include wellsite services, intervention and stimulation equipment, marine and construction, and NOV Digital Services for real-time drilling instrumentation.

Differentiator

Problem solved

Functional benefit

Brands

• GustoMSC: Designs and engineers mobile offshore units and equipment for safe and efficient energy operations at sea
• Grant Prideco
• ReedHycalog
• Tuboscope
• Completion Tools
• BRANDT
• Chemineer
• Mission
• Bowen
• Elmar
• Varco
• Axelson
• Dreco
• Mono
• Keystone Tower Systems
• Extract

Products and services

• Rig Technologies Complete land and offshore drilling rig systems including drawworks, top drives, drilling structures, power systems, and automation controls for oil and gas operators and drilling contractors.
• Subsea Production Systems Subsea production equipment including flexible pipes, subsea connectors, BOP systems, and production systems for offshore deepwater applications.
• Fiber Glass Systems Composite pipeline systems, fittings, and structures for oil and gas, chemical, marine, offshore, fuel handling, and mining industries with corrosion-resistant solutions.
• Downhole Technologies Advanced downhole drilling and intervention solutions including drilling motors, jars, fishing tools, and bits designed to increase ROP and decrease nonproductive time.
• Artificial Lift Systems Electric submersible pumps, surface pumping systems, and production optimization solutions for artificial lift applications in oil and gas wells.
• GustoMSC Mobile offshore unit designs and equipment including jack-up vessels, crane systems, and technology for safe and efficient offshore energy operations.
• Grant Prideco Innovative drill pipe, heavy weight drill pipe, drill collars, and connection solutions for drilling, completion, and intervention needs.
• ReedHycalog Drill bit products and technologies including PDC bits, roller cone bits, and specialty bits for optimizing the drilling process from bit to crown.
• Tuboscope Comprehensive oilfield tubular and accessory services including inspection, coating, and pipe protection technologies.
• IntelliServ High-speed data transmission solutions enabling instantaneous data transfer from downhole to surface for real-time drilling optimization.
• WellSite Services Solids control and drilling fluid technologies, managed pressure drilling (MPD) services, and wellsite solutions for servicing wellbores and streamlining site logistics.
• Intervention and Stimulation Equipment Oil well intervention and stimulation equipment delivering coiled tubing units, fracturing spreads, and complete stimulation solutions.
• Marine and Construction Complete lifecycle partner for offshore operations including mooring systems, construction equipment, and marine engineering services.
• Production and Midstream Service expertise and integrated solutions driving operational uptime and maximizing cost efficiency for production and midstream operations.
• NOV Digital Services Real-time drilling instrumentation, visualization solutions, and data communication supporting back-office information management offerings.
• NOVOS Reflexive Drilling System Reflexive Drilling System enabling automated drilling decisions with AI-driven multi-step actions and limited human intervention for improved drilling efficiency.
• Max Industrial IoT Platform Industrial IoT platform enabling real-time monitoring, predictive analytics, and operational optimization across drilling and manufacturing operations.
• CAPstone Connected Automation Platform Connected Automation Platform from Rig Technologies enabling rig automation and integrated control of drilling equipment.
• Drilling Beliefs & Analytics AI-driven drilling optimization service providing insights to improve drilling performance, reduce non-productive time, and support real-time operations centers.
• eVolve Optimization Service Automated drilling optimization service with capabilities including ADVISE, AUTOMATE Land, AUTOMATE Offshore, CONTROL, and INFORM modules.
• Completion Tools Well completion tools including frac sleeves, packers, and completion systems that help oil and gas customers improve reservoir performance and production.
• Fluid Motion Solutions Pumping, mixing, and blending technologies for challenging projects across various industrial applications.
• Bowen Fishing tools including jars, overshots, spears, and junk mills for fishing and well intervention operations.
• BRANDT Shale shakers, centrifuges, mud conditioners, and fluid control equipment for drilling fluid processing.
• Mission Centrifugal pumps, pump flow charts, and pump technologies for various oilfield applications.
• Elmar Wireline pressure control equipment, lubricators, valves, and tool catchers for wireline operations.
• Axelson Safety valves, flow controls, and surface production equipment for oil and gas operations.
• XL Systems Engineered precision connectors for various industry challenges including subsea and surface applications.
• Top Drive Systems Industry-standard top drive systems for offshore and land drilling rigs, one of the most transformative developments in drilling history.
• Power Systems Power distribution systems highly configurable from the smallest drilling rigs to the largest applications.
• Motion Compensation Systems Systems that compensate for vertical movement of offshore drilling rigs by isolating motion from the drill string, preventing riser string buckling.
• Rig Data Data aggregation solution that collects all data from the drilling control network to provide a view of rig operational health.
• ATOM RTX Fully-automated advanced system robotics for performing a variety of tasks and improving rig performance.
• PowerBlade Kinetic energy recovery system that preserves lost energy to reduce fuel costs and emissions while increasing operational safety and reliability.

Quantifiable outcome

• 70% reduction in planned maintenance costs through Max Maintenance solution
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature8 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• TerraFlow EnergycoreStrategic or Co-development Partner · 28 May 2026Collaboration combines TerraFlow's long-duration energy storage technology with NOV's expertise in fiberglass systems, manufacturing, and field execution to support AI-scale power infrastructure applications requiring durability, corrosion resistance, and long asset life.
• Hanwha OceancoreStrategic or Co-development Partner · 11 February 2026NOV secured contract for next-generation GustoMSC NG-16000X Wind Turbine Installation Vessel for Hanwha Ocean, offering enhanced lifting and carrying capacities with delivery expected in 2028.
• AIQcoreTechnology or Integration · 12 January 2026Partnership combines NOV's drilling systems and Max industrial IoT platform with AIQ's industrial AI capabilities to accelerate AI-powered drilling optimization and support broader international adoption of AI-driven drilling solutions.
• ExxonMobilcoreStrategic or Co-development Partner · 17 December 2025NOV selected by ExxonMobil Guyana to provide an actively heated flexible pipe system for the Hammerhead field development offshore Guyana, supporting deepwater flow assurance in one of the most active basins globally.
• ArmadacoreTechnology or Integration · 17 November 2025Collaboration brings AI-powered solutions to the edge through a ruggedized industrial edge computing platform enabling real-time, AI-driven decision-making across energy, mining, manufacturing, and utilities sectors.
• Southern Energy SA (SESA)coreStrategic or Co-development Partner · 12 November 2025NOV's APL group awarded second Submerged Swivel and Yoke System contract supporting Southern Energy SA in accelerating Argentina's offshore LNG export capacity.
• Extract Companies LLCminorStrategic or Co-development PartnerNOV acquired Extract Companies LLC to expand its offerings in pneumatic and hydraulic systems for industrial applications.

Scale indicators12 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Weatherford International: Weatherford provides drilling, evaluation, and production equipment and services, competing directly with NOV across drill bits, drilling tools, artificial lift, and wellsite services.
• Tenaris: Tenaris is a global manufacturer and supplier of seamless and welded steel pipe products and services for the energy industry, directly competing with NOV's Grant Prideco drill pipe and Tuboscope tubular inspection businesses.
• Aker Solutions: Aker Solutions is a Norway-based provider of subsea production systems and offshore engineering services that competes directly with NOV's Subsea Production Systems and GustoMSC offshore design businesses.
• Halliburton: Halliburton is one of the world's three largest oilfield services companies, providing drilling, completions, and production services that overlap with NOV's wellsite services and intervention equipment offerings.
• Schlumberger (SLB): Schlumberger (now SLB) is the world's largest oilfield services company, offering a comparable portfolio of drilling equipment, subsea systems, and digital solutions to global energy operators. Directly competes with NOV across drilling, subsea production, and digital oilfield categories.
• Oceaneering International: Oceaneering provides subsea robotics, intervention tooling, and marine services that overlap with NOV's intervention, stimulation, and marine/construction offerings, particularly in deepwater intervention tool markets.
• TechnipFMC: TechnipFMC is a leading subsea production systems and flexible pipe competitor, with deep overlap in subsea trees, manifolds, and flexible flowlines that compete directly with NOV's Subsea Production Systems business.
• Baker Hughes: Baker Hughes is a major oilfield services and equipment company with overlapping product lines in drilling, completions, and subsea production. Competes directly with NOV's Rig Technologies, Downhole Technologies, and Artificial Lift Systems segments.
• Subsea7: Subsea7 is a major subsea engineering, construction, and services contractor that operates in the same deepwater value chain as NOV's subsea production and flexible pipe businesses.

Broad incumbents

• Saipem: Saipem is an Italy-based engineering, drilling, and construction company serving the oil & gas and offshore wind markets with a broader services portfolio that overlaps with NOV's Marine & Construction and GustoMSC offshore design capabilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/NOVGlobal
• YouTubeyoutube.com/@NOVGlobal
• Facebookfacebook.com/NationalOilwellVarco
• LinkedInlinkedin.com/company/national-oilwell-varco

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A16 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Oilwell Varco