March 26 – NOV announced plans to virtually double the capacity of its submarine flexible pipe manufacturing unit at the Porto do Açu, in São João da Barra (RJ), through a US$200 million investment over the next three years. According to Jose Bayardo, chairman, president and CEO of NOV, the expansion of the unit comes at a time when there is an expectation of sustained long-term demand.
“Our current manufacturing capacity has been operating at or near full capacity and has an order backlog that extends well into 2028. With the projected increase in offshore resource development, we believe that the industry’s current capacity will be insufficient to meet demand at the end of this decade and throughout the 2030s without the additional capacity we plan to put into operation by the end of 2029,” said the executive.
Bayardo further stated that the expansion also positions NOV to introduce new technologies, including our CO₂-resistant subsea flexible pipe, designed for high-carbon dioxide applications, which has the potential to expand the flexible pipe market.
“NOV is uniquely positioned to seize this growth opportunity, as our unit in Açu was originally designed to allow this type of expansion at a fraction of the cost of a greenfield plant with equivalent capacity,” he added.
The reaction to the announcement was very positive. Petrobras’ Executive Manager of Subsea Systems, Flavio Bretanha, noted that the oil company is the world’s largest consumer of subsea flexible pipes. “Subsea flexible pipes are critical components for Petrobras to achieve its offshore production goals, in line with our broader production strategy. NOV has been a reliable partner of Petrobras for years, and we look forward to continuing this collaboration to advance technologies that increase reliability, safety, and operational performance,” he stated.
The $200 million investment plan will result in an increase of approximately $50 million in the company’s capital expenditure (capex) plan for 2026.
Brazil Energy Insight 
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