Overview
NOV Inc. is an equipment and technology provider serving the global energy industry. Its products and services support drilling, intervention, completion, and production, including drill bits, downhole tools, drill pipe, completion equipment, and artificial-lift systems. The company also supplies equipment for marine and offshore markets, including cranes, jacking and mooring systems, and offshore-wind installation solutions.[1][2][3]
NOV describes its purpose as “powering the industry that powers the world.” [4] It reported operations in 57 countries and 31,605 employees as of December 31, 2025.[5][6] Revenue from external customers was $8.744 billion for fiscal 2025.[7] [1][2][3][4][5][6][7][4][6]
Products & services
NOV’s drilling and well-construction products include customized fixed-cutter and roller-cone drill bits, borehole-enlargement and coring tools, drilling motors, agitator systems, measurement-while-drilling and logging-while-drilling equipment, and fishing and intervention tools. Its completion offerings include frac plugs and sleeves, toe-initiation systems, recyclable setting tools, casing and liner hangers, and remotely activated offshore completion equipment. Artificial-lift products include electric-submersible, high-viscosity and surface pumps. NOV also supplies drill pipe and drill-stem equipment, plus conductor-casing connectors for 16–72-inch diameters.[8][9][10][11][12][13]
Energy Equipment products span land and offshore drilling rigs and packages, top drives, automated rig equipment, managed-pressure-drilling systems, hydraulic-stimulation and coiled-tubing equipment, and electric-line and slickline units. Marine and offshore offerings include heavy-lift cranes, deck-handling, mooring and jacking systems, offshore-wind installation equipment, and floating-production vessel systems. Process and subsea products include oil, gas and water separation and treatment systems, monoethylene-glycol reclamation, carbon-capture and CO₂-dehydration systems, and flexible subsea pipe designed for deepwater pressure, tensile loads and fatigue.[14][15][3][16][17]
Services include equipment rental and sales, installation and field service, repair, recertification, spare parts, technical support, training, tubular inspection and repair, and drilling-waste and water management. Digital products aggregate drilling, completion and production data for analytics; proprietary wired drill pipe and Downhole Broadband Solutions transmit broadband data through the drill string, while NOV’s Max platform provides equipment-status and operational insights.[2][18][19][20][21][15] [8][9][10][11][12][13][14][15][3][16][17][2][18][19][20][21]
Geographic presence
NOV operated in 57 countries and approximately 503 locations across six continents, with significant foreign operations in the Middle East, Africa, Latin America, the Far East, Canada and Europe. Its principal facilities include sites in the United States, Mexico, the United Arab Emirates, Saudi Arabia, Malaysia, China, Singapore, Scotland, Denmark and Brazil.[5][22][23][24]
For full-year 2025, revenue was $3.275 billion in North America (37.5%) and $5.469 billion internationally (62.5%), out of $8.744 billion total. The company reports revenue in these broad regions rather than by individual country.[25] The 2025 employee distribution was United States 34%, Europe 21%, Latin America 14%, Asia Pacific 13%, Middle East and Africa 11%, Canada 4%, and China 3%.[26] [5][22][23][24][25][26]
Business segments
For FY2025, NOV Inc. reported two operating segments. **Energy Products and Services** accounted for approximately **44% of external revenue** ($3.871 billion of $8.744 billion). It supplies products and services used in drilling, intervention, completion and production, including drill bits, downhole tools, drill pipe, drilling fluids, completion and artificial-lift systems, and composite products. Its services also include tubular inspection and coating, solids control and waste management, and drilling and completion software, monitoring and analytics.[27][2][7]
**Energy Equipment** represented approximately **56% of external revenue** ($4.873 billion). It designs, builds and supports capital equipment and integrated systems for oil-and-gas exploration and production, as well as industrial, marine and renewable applications. Its offerings include offshore and marine equipment, cranes and jacking systems, industrial pumps and mixers, and related parts, repair, field service and technical support.[28][18][29][7] Before the two-segment structure took effect in 2024, NOV reported Wellbore Technologies, Completion & Production Solutions, and Rig Technologies as its three reportable segments.[30] [27][2][7][28][18][29][30]
Company history
NOV’s corporate roots date to 1862, when its predecessor was founded in Oil City, Pennsylvania [31]. In 2005, National Oilwell and Varco merged, bringing together two oilfield-equipment businesses [32]. NOV expanded its drilling equipment portfolio with the 2008 acquisition of Grant Prideco [33] and added process and fluid-handling businesses through its 2013 acquisition of Robbins & Myers [34].
National Oilwell Varco changed its corporate name to NOV Inc. effective January 1, 2021 [35]. In 2024, the company acquired MAATS Tech’s business intellectual-property rights, adding cable-lay engineering capabilities [36]. Jose Bayardo succeeded Clay Williams as Chairman, President and CEO on January 1, 2026 [37]. [1][38][31][32][33][34][35][36][37]
Sources
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