National Oilwell Varco is investing $23 million in a drilling technology facility in New Iberia, creating 80 new direct jobs with a $60,000 average annual salary.
Headquartered in Houston, NOV designs, manufactures and sells mechanical components used in both land and offshore oil and gas drilling rigs.
The new technology facility will offer drilling rig repair services and remanufacturing of riser materials and equipment for offshore drilling operations, according to a news release.
Not only is the building of the facility expected to create 45 construction jobs, but Louisiana Economic Development officials anticipate the new facility will result in an additional 78 support jobs.
“National Oilwell Varco is excited to expand its operations,” said Toby Webre, service director for North America. “NOV is proud to operate in Louisiana, which offers opportunity for growth with its favorable business climate and strong partnerships.”
The building work will be completed by the end of the year, with hiring of the new positions beginning in the fourth quarter of 2013. NOV plans to fill approximately 25 jobs per year and reach full employment of 80 at the site in 2016.