Baker Hughes Co. agreed to sell the surface pressure control (SPC) flow business unit in its oilfield equipment segment to Pelican Energy Partners LP for an undisclosed amount on Sept. 10.

The sale follows comments CEO Lorenzo Simonelli made recently about downsizing Baker Hughes’ oilfield services and equipment portfolio in preparation for the energy industry’s transition to a low-carbon future. Baker Hughes has already started to shed some oilfield assets as part of a company strategy to bolster its footprint in technologies needed for renewables.

“We believe that the changes facing the oil and gas markets and rapid growth in demand for lower carbon solutions warrant an acceleration of our strategy,” Simonelli noted during the Barclays CEO Energy-Power virtual conference according to a recent Reuters report.

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