NOV DOWNHOLE EURASIA LIMITED

• ⚠

  Confirmation statement overdue

  Due 2025-12-03.

Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +60.9%

  £629,335,426 → £1,012,379,457

• Cash

  -3.4%

  £58,535,546 → £56,548,553

• Net assets

  +13.5%

  £306,132,915 → £347,434,402

• Employees

  +82.3%

  1,861 → 3,393

• Operating profit

  +46.2%

  £51,264,858 → £74,930,851

• Profit before tax

  +41.5%

  £45,790,536 → £64,779,098

• Wages

  +87.1%

  £65,601,405 → £122,733,797

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. NOV DOWNHOLE EURASIA LIMITED 2009-11-30 → present
2. REEDHYCALOG EURASIA LTD 2003-02-17 → 2009-11-30
3. GRANT PRIDECO UK LTD 2002-11-05 → 2003-02-17
4. DMWSL 383 LIMITED 2002-08-19 → 2002-11-05

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have considered the Group's current and future prospects and its availability of financing and are satisfied that the Group can continue to pay its liabilities as they fall due from the date of approval of these financial statements through to 31 December 2026. Based on a review of forecasts for the Group through to 31 December 2026, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future and have no reason to believe that a material uncertainty exists that may cast significant doubt over the ability of the Group to continue as a going concern. In the event that the Group requires assistance to meet its financial obligations, then the parent would be able to provide support to the Group. The Directors have received a letter of support from the parent, confirming it will provide financial support to the Group if needed, until 31 December 2026, in order to allow the Group to continue to operate as a going concern. The Directors have assessed the ability of the parent undertaking to provide financial support and are confident that the parent has adequate cash resources to assist the Company in meeting its liabilities as and when they fall due, if necessary. Accordingly, the Directors continue to adopt the going concern basis in preparing the financial statements.”

Group structure

1. NOV DOWNHOLE EURASIA LIMITED · parent
   1. Arabian Rig Manufacturing Company 0.7% · the Kingdom of Saudi Arabia
   2. NOV Downhole KZ LLP 0.99% · Kazakhstan
   3. NOV Energy Kuwait for Maintenance of Oil Facilities, Wells, Refineries and Petrochemicals SPC 1% · State of Kuwait
   4. NOV Muscat SPC 1% · Sultanate of Oman
   5. NOV Products Middle East FZE 1% · United Arab Emirates
   6. NOV QFZ LLC 1% · State of Qatar
   7. NOV Saudi Arabia Co. Ltd. 1% · the Kingdom of Saudi Arabia
   8. NOV Saudi Arabia Trading Ltd. 1% · the Kingdom of Saudi Arabia
   9. Reed Hycalog UK Limited (dormant) 1% · BT 1 1LS
   10. Vetco Saudi Arabia Ltd. 1% · Kingdom of Saudi Arabia
   11. NOV Equipment Manufacturing LLC 1% · United Arab Emirates
   12. AF Global FZE 1% · United Arab Emirates
   13. NOV Middle East FZE 1% · United Arab Emirates

Significant events

• “On 10 March 2025, the Company advanced the final instalment of $10,000,000 on an existing loan note with a Group undertaking, NOV Flexibles Equipamentos e Serviços Ltda.”
• “On 11 April 2025, the Company issued a further loan note amounting to $5,000,000.”
• “On 5 May 2025, the Company issued an additional loan note amounting to $10,000,000, payable in two instalments of $5,000,000 each, of which the second instalment was not drawn. All loan notes carried an interest rate of 5.85% per annum and were fully repaid by 31 October 2025.”
• “On 1 April 2025, the loan agreements between the Group and its affiliates were amended to extend the maturity dates of certain facilities, as detailed in Note 21. The maturity date for the loan with National Oilwell Varco, L.P. was changed from 31 December 2025 to 31 December 2028; the loan with NOV Canada ULC was extended from 31 August 2025 to 31 August 2028; and the loan with NOV Elmar (Middle East) Limited was extended from 24 October 2025 to 24 October 2028. All other terms and conditions of these loan agreements remain unchanged, and the amendments are effective from 1 April 2025.”
• “On 12 May 2025, the Company declared and paid a dividend of USD $150,000,000 to its sole Shareholder, National Oilwell Varco UK Limited.”
• “On 22 October 2025, the Company acquired 100% of the shares in NOV Middle East Oil and Natural Gas Wells Equipments and Devices - L.L.C - S.P.C. This was by way of purchasing 51% of the equity interest from the JV partner, Al Shoumoukh Industries. The consideration paid for the 51% share was $20,845. The remaining 49% of the shares were acquired from NOV Germany GmbH for consideration of $1.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

1

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.