Baker Hughes company announced that it will collaborate with Air products company, a global leader in industrial gases and megaproject development on developing NEOM carbon-free hydrogen project in Saudi Arabia by providing advanced compression technology.

Minister of Petroleum and Mineral Resources, Tarek El Molla, has witneesed the signature of a memorandum of understanding (MoU) between companies Petrojet and Baker Hughes for maximizing their cooperation in the fields of projects design and implementation.

The number of Baker Hughes’s rotary drilling rigs operating in the US has increased on April 16, recording 439 rigs.

Baker Hughes Company announced that it has signed a memorandum of understanding (MoU) with Horisont Energi company for the Polaris carbon storage project off the northern coast of Norway.

Minister of Petroleum and Mineral Resources, Tarek El Molla, said that Egypt’s oil sector is  currently working on expanding its reliance on the digital technology in the upcoming petroleum projects and that the petroleum sector has unique chances for international partnerships in projects based on modern technology.

PAO Novatek, a subsidiary of Novatek, has signed a cooperation agreement with Nuovo Pignone, a part of Baker Hughes Company, aiming at reducing carbon dioxide CO2 emissions.

Saudi Aramco and Baker Hughes have formed a Novel 50/50 joint venture (JV) to develop a broad range of non-metallic products for multiple applications in the energy sector.

H.E. Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, asserted the importance of developing brownfields, referring to several revival strategies that were used in Egypt. The minister remarks came during Egypt Oil & Gas (EOG) Committee’s virtual roundtable titled ‘Increasing Investments in Egypt’s Brownfields Opportunities’ on Sunday, October 18.

Tameer Nasser Director and General Manager at Baker Hughes stated that the company plans to decrease its operational costs in Egypt in line with the government’s plan to attract new investments.

Baker Hughes’s revenues reached $5.4 billion during Q1 2020, recording a 3% year on year (YoY) decrease from Q1 2019.