NOV ACQUIRES DUTCH RIG ENGINEERING FIRM GustoMSC
Houston rig and equipment builder National Oilwell Varco said it bought GustoMSC, a Dutch design and engineering company of mobile offshore units and equipments.
GustoMSC offers jack-ups, self- propelled jack-ups, semi-submersibles, and vessels. The company also provides consultancy, customized design, basic design and associated equipment, and operational support services. It serves offshore oil and gas, and wind markets. The company was founded in 2003 and is based in Schiedam, the Netherlands.
The deal allows NOV to expand and further vertically integrate its offshore rig business now that oil prices are healthier and the languishing deepwater energy sector is showing signs of life. During the recent oil bust, NOV shifted more of its business to the still-thriving onshore U.S. shale industry. GustoMSC was previously sold in 2012 for about $185 million to the Dutch private equity firm Parcom Capital. The consulting and research firm Rystad Energy called GustoMSC one of the world’s premier rig design companies. (Source: NOV – Image: Manuq Arctic drillship/GustoMSC)