NOV Announces $23 Million Drilling Technology Facility In Louisiana
National Oilwell Varco (NOV) will develop a $23 million drilling technology facility in New Iberia, LA. The new facility will create 80 new direct jobs, and LED estimates the technology facility will result in an additional 78 new indirect jobs, for a total of more than 150 new jobs.
The technology facility will provide drilling rig repair services and remanufacturing of riser materials and equipment for offshore drilling facilities. With the project, NOV will retain 1,793 employees at 76 locations throughout Louisiana, including 150 workers at a NOV Rig Solutions facility completed three years ago near New Iberia. That facility houses inventory and provides repair services for drilling equipment.
The new technology facility will focus primarily on providing riser systems and riser accessories for the expansion of drilling operations in the Gulf of Mexico. The project will create 45 construction jobs.
LA Gov. Bobby Jindal said, “NOV already has a long and successful history in Louisiana, and the company’s reinvestment in our state is proof that our thriving business climate is growing our economy and creating more career options for our people. We’re proud NOV is beginning this new chapter in its oil and gas industry service right here in Louisiana.”
Headquartered in Houston, NOV designs, manufactures and sells the major mechanical components for both land and offshore drilling rigs, along with providing oilfield services and equipment. In 2012, NOV recorded global revenue of more than $20 billion.
“NOV is excited to expand its operations in the greater New Iberia, LA, area,” said Toby Webre, who is the NOV Rig Solutions service director for North America. “We anticipate that the new facility will initially add 80 jobs in the community.”
The state began working with NOV in April to identify growth opportunities within Louisiana. The state offered NOV a customized incentive package that includes the comprehensive workforce solutions of LED FastStart®. In addition, NOV is expected to use Louisiana’s Quality Jobs and Industrial Tax Exemption programs.
“Today’s announcement is great news for Iberia Parish,” Iberia Parish President Errol “Romo” Romero said. “Creating and keeping good-paying jobs like these is important, and we couldn’t be happier that NOV decided to expand here.”
“This is another great win for Iberia Parish and Acadiana,” said President and CEO Mike Tarantino of the Iberia Industrial Development Foundation. “Great companies like NOV could locate and invest anywhere, and we’re thankful they are choosing Iberia Parish.”