As per the agreement, which is subject to final approval by its board of directors and other conditions to closing, BW Offshore and National Oilwell Varco will enter into product supply and non-competition agreements.
National Oilwell Varco chairman, president and CEO Pete Miller said that the company believes that this agreement will be the next phase of deepwater development in the oil and gas sector.
APL’s technologies in the FPSO sector will reinforce National Oilwell Varco’s Rig Technology offering in the FPSO space, enabling the company to provide new turret products to FPSO owners and operators worldwide.
APL designs and manufactures turret mooring systems and other products for Floating Production, Storage and Offloading vessels (FPSO’s) and other offshore vessels and terminals.
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