Page 155: of Offshore Engineer Magazine (May/Jun 2015)

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Faces of the Industry

Joe Rovig

President, NOV Rig Systems

Joe joined NOV in 2002 and has served as Group Vice

President of Global Operations, Vice President of the Eastern

Hemisphere, Director of Service and Repair and Senior Vice President of the Offshore Drilling Equipment group within NOV Rig Systems. Prior to joining NOV, he worked for two drilling contractors in various positions, both domestically and internationally. His internationally-based positions cover twenty years of experience with multiple locations in Asia and Europe.

your take and how is it do you have for those who staying employed are the newer US GOM, they have exceed- impacting your business? are impacted?

and more advanced units, ingly higher hurdles to get

There are multiple factors Don’t take it personally. We which requires our support. We across before CAPEX will be depressing oil prices – the are in a cyclical business and are starting to see bene? ts in approved.

US dollar foreign exchange are currently going through a our survey and repair business

What are some key rate, market share scenarios market correction. I’ve been as companies are looking to contributions you would with OPEC, and fundamental laid off once myself, it lasted extend the life of equipment like to be known for?

supply and demand. We are two weeks because I remained versus replacing it coupled

I’d like to be known for reaping the bene? ts of higher ? exible. Be prepared to move with our SPS (Special Periodic being part of a team, that than expected production, geographically or even down

Survey) business.

in our segment of the busi- particularly in the shale plays, in structure to stay in the

What are some rig market ness, made industry history. which has led to an oversup- game. This is a great industry trends for the US and

We merged two companies, ply. Also, the global econo- in which to make a career.

Mexico side of the Gulf?

National Oilwell and Varco, at mies aren’t doing as well. Younger people have the

If you step aside from the oil a time when the market was

There a lot of things that have greatest ability to be ? exible price pressure, there is some depressed. We were ideally to get better before the price of and stay in this business. This interest in deep 20K operations. positioned when the market oil goes up. business will grow again very

It’s the early days, but there are improved to bring capacity and

As oil companies reduce soon with loads of opportuni- ? elds in the Gulf of Mexico that technologies at a time when budgets, it impacts drilling ties. The world’s population is will require newly-designed the market really needed it. contractors, which in turn growing, and the energy we are products to reach that operat-

The growth that we’ve had impacts us. We size for what currently producing today is ing window. Deregulation from 2006 to today is tremen- the market gives us. Within depleting. For the medium to in Mexico will alsoresult in dous. The ability to have that our rig equipment side we are long term, a lot of this energy increased activity. Even before growth and execute at the level fortunate to still have a rea- will have to be harnessed from deregulation, Pemex was look- that we have achieved has been sonable backlog which allows oil and gas. This industry has ing at upgrading their ? eets. A extremely rewarding. Being a us a level of stability in these a growth pro? le for the next 30 lot of new jackups are head- part of that industry chapter challenging market condi- to 40 years. Right now, we are ing into the marketplace for makes me very proud. tions. With a slow-down, we weathering a correction storm.

the ? rst time in a long time. are shifting our engineering

Can you give us a snapshot

Mexico is under the same oil resources to ramp up research Kelli on what’s happening in price pressure as everyone. It and development projects. We Lauletta is aftermarket now?

will be more subtle, but there currently are working on two an HR

Aftermarket is under pressure, appears to be a commitment to rigs of the future for onshore consultant as is all our business, but in bring in newer technologies. and offshore. They both have with 17 comparison it is still relatively On the US side, the shallow speci? c new technology to years stable. While we have seen rig offshore marketplace still is improve capacity and ef? - experience. ? eets come down especially in challenged. Deepwater projects ciency. Our engineers love to She also the North American land mar- are continuing, but are under work on the “new stuff.” serves as an editor for ket, they haven’t come down a lot more scrutiny. As far

OilOnline.com. Kelli can be

The industry is bracing for too drastically from a global as bringing on new projects reached by email at klauletta@ more layo