NOV (Jiangsu) Energy Equipment's oil drilling project, currently under construction, is the largest project ever established in Jiangyan district's Baimi town, Taizhou, Jiangsu province.
NOV (Jiangsu) Energy Equipment's oil drilling project is under construction in the Jiangyan district of Taizhou, Jiangsu province. [Photo/WeChat account: jyrmzf]
With a planned investment of 3 billion yuan ($414.8 million), the project is anticipated to become operational by the end of 2025. Upon completion, the performance of the products manufactured by the company is expected to be significantly improved, expanding their applicability from terrestrial to deep-sea environments.
NOV (Jiangsu) Energy Equipment, a subsidiary of National Oilwell Varco (NOV), has been operating in Baimi town, Jiangyan, for three decades. Looking ahead, NOV's headquarters intends to consolidate resources from five domestic and international production bases into its Jiangyan base, designating it as the company's processing center for the Eastern Hemisphere.
Oil and gas equipment is a pillar industry in Baimi town, currently home to 252 related enterprises. In 2023, the sales revenue of these enterprises exceeded 8 billion yuan.