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NOV Introduces GoConnect for Intervention and Stimulation Equipment Condition Monitoring and Predictive Maintenance Services

National Oilwell Varco, Inc. (NYSE: NOV) today announced the commercial
launch of GoConnect™ condition monitoring services for intervention and
stimulation equipment, which provides real-time process monitoring,
predictive analytics, and condition-based maintenance capabilities for
NOV’s pressure pumping, coiled tubing, nitrogen, and wireline equipment.
The GoConnect system uses machine learning to provide data-driven
insights into the condition, health, and performance of customers’
equipment and operations. The GoConnect system’s capabilities allow
customers to reduce downtime-related costs, enhance equipment
performance, and improve operational efficiencies of completion services.

“Condition monitoring and predictive analytics are changing the way we
support, maintain, and design our equipment, allowing us to deliver
better uptime and performance for our customers,” said Clay Williams,
Chairman, President, and CEO. “Given that completions represents over
two-thirds of the cost of a horizontal well in North America, expanding
NOV’s condition monitoring offerings to support intervention and
stimulation equipment operations was the next logical area to apply our
industry-leading digital technologies and services. We believe GoConnect
will help customers improve asset performance, utilization, and
reliability while reducing costs.”

Asset Link, the first commercial product of a multi-tier GoConnect
service offering, enables real-time data monitoring and tracking, and is
now available to customers after extensive field trials. The second tier
of service, Asset Insight, which supports root cause analysis of
component failures through advanced diagnostics tools and improves asset
management with real-time alerts and customizable reports, will be
available by the third quarter of this year. Asset Optimization, the
third tier of service, which incorporates proprietary algorithms
developed by NOV’s technical equipment experts and data scientists to
predict and prevent maintenance issues, will be available by the end of
the year.

NOV’s GoConnect system for intervention and stimulation equipment is
powered by NOV’s Max™ platform, which also powers NOV’s successful
RigSentry™ condition monitoring system for drilling equipment. By
unifying the company’s digital solutions, products, and services through
the Max platform, NOV will be able to more effectively help the industry
reduce costs while improving the performance and reliability of critical
equipment.

About NOV

National Oilwell Varco, Inc (NYSE: NOV) is a leading provider of
technology, equipment, and services to the global oil and gas industry.
NOV has been pioneering innovations that improve the cost-effectiveness,
efficiency, safety, and environmental impact of oil and gas operations
since 1862. The depth and breadth of NOV’s offerings support customers’
full-field, drilling, completion, and production needs. NOV powers the
industry that powers the world.

Visit www.nov.com
for more information.

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