NOV has secured a contract from Equinor to supply flexible pipe for three subsea tieback projects on the Norwegian Continental Shelf under the first wave of Equinor's NCS2035 development program. The award highlights NOV's role in standardized offshore field development and Equinor's confidence in its flexible pipe technology for marginal fields. The contract adds visible work in a core product line but does not eliminate near-term risks from delayed offshore final investment decisions that could pressure NOV's backlog and pricing. The win complements NOV's capital return program, which includes regular dividends and over US$610,000,000 in buybacks under the current authorization, even as Q2 2026 guidance points to a 4 percent to 6 percent year-over-year revenue decline with margins strained by Middle East disruptions and customer price sensitivity.
NOV Inc.NOV secured a contract from Equinor to supply flexible pipe for three subsea tieback projects, adding visible work in a core product line.
Equinor ASA ADREquinor awarded a contract to NOV for its NCS2035 development program, indicating progress in its subsea projects.
Dell Technologies Inc