Houston-headquartered Innovex International, established in 2024 following the merger of Dril-Quip and Innovex Downhole Solutions, has signed a master service agreement with SLB OneSubsea for the supply of subsea wellhead technology.
Dril-Quip, a developer, manufacturer and provider of highly engineered equipment and services for the offshore and onshore oil & gas industry, announced in September 2024 the completion of the merger with Innovex Downhole Solutions, a designer and manufacturer of products for upstream onshore and offshore activities.
The combined company began trading on the New York Stock Exchange on September 9, under the ticker symbol “INVX” .
The strategic frame agreement is said to establish a standard framework for enhanced collaboration, paving the way for faster development of future business opportunities and strengthening the long-standing relationship between OneSubsea and Dril-Quip, now Innovex.
“This strategic agreement with OneSubsea underscores our commitment to continuously enhance and optimize our product offerings for our customers,” said Adam Anderson , CEO of Innovex.
“This collaboration further deepens our relationship with OneSubsea, enabling us to deliver integrated solutions, faster, addressing the evolving needs of the global energy sector. We are excited about the tremendous opportunities this agreement brings and are eager to provide enhanced value across the industry.”
In terms of the most recent news coming from OneSubsea, it is worth noting that the company earlier this month signed a pre-commitment agreement with Norwegian oil & gas company Vår Energi for the delivery of subsea production systems (SPS), a move expected to shorten subsea tie-back development time by up to one year.