Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and National Oilwell Varco, Inc. et al.

11/14/2016

National Oilwell Varco, Inc., a Delaware corporation, and its subsidiaries Dreco Energy Services, Ltd. ("Dreco") and NOV Elmar ("Elmar") have agreed to settle their potential civil liability for apparent violations of the Cuban Assets Control Regulations, 31 C.F.R. part 515 (CACR), the Iranian Transactions and Sanctions Regulations, 31 C.F.R. part 560 (ITSR), and the Sudanese Sanctions Regulations, 31 C.F.R. part 538 (SSR), for $5,976,028.

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​​Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and National Oilwell Varco, Inc. et al.

Office of Terrorism and Financial Intelligence

Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and National Oilwell Varco, Inc. et al.