Baker Hughes has completed its Subsea Drilling Systems business (SDS) merger with Akastor ASA’s subsidiary MHWirth AS (MHWirth), forming a global offshore drilling equipment company called HMH, a press release issued by Baker Hughes announced.
With both companies in the merger having equal equity in HMH, the newly formed company will have the ability to combine skills and expertise in the field, enabling them to offer a wide range of world-class offshore drilling equipment products and packages.
In its mission to support the industry’s transition towards energy-efficiency, HMH also seeks to play a pivotal role in making the industry more competitive, through optimizing drilling efficiency and its use of innovative technologies and service solutions.
“This is a very exciting transaction for the industry, our customers, shareholders and employees,” HMH Chairman and CEO Merrill A. “Pete” Miller said. “We are combining two of the best-known equipment manufactures in our industry to create HMH, building on a best-in-class portfolio and unparalleled full-service approach.”
The new company’s headquarters is in Amsterdam, Netherlands and has two major operational centers in Houston, USA and Kristiansand, Norway. As of October 1, 2021, HMH is officially a privately-owned company.