
A Baker Hughes engineer mixes chemicals in a testing laboratory. (Source: Baker Hughes)
Baker Hughes and Saudi Arabia's state-owned Dussur will form a joint venture focused on providing oilfield services and industrial chemicals in the country, the companies said on March 29.
Texas-based oilfield services provider Baker Hughes will hold 51% of the joint venture under the agreement that is expected to close in the third quarter.
Dussur, or Saudi Arabian Industrial Investments Company, is owned by the nation's sovereign wealth fund (PIF), oil company Saudi Aramco and SABIC, the world's fourth-biggest petrochemicals firm.
The joint venture will continue to operate under the Baker Hughes brand, and its manufacturing facility in Jubail City will supply chemicals focused on the needs of Saudi Arabia.
In 2020, Baker Hughes formed a joint venture called Novel with Saudi Aramco to develop non-metallic products for multiple applications in the energy sector.
Recommended Reading
Solaris' Innovations Help Reduce Completions Downtime
2023-01-04 - Solaris’ new electrical blender has higher up time than its traditional counterparts, while a mobile bucket elevator speeds up the sand delivery process
US Drillers Leave Oil, Gas Rigs Unchanged: Baker Hughes
2023-01-27 - The U.S. oil and gas rig count remains steady at 771 in the week ending Jan. 27, according to Baker Hughes.
TotalEnergies EP Canada Acquiring 6.65% Additional Interest in Fort Hills Project
2023-01-27 - The acquisition is ahead of TotalEnergies’ planned spin-off of the Canadian company.
Tech Over Trial-and-Error: Improving Near-Well Bore Completions
2023-01-27 - Drill2Frac’s FlowFX solution helps fine-tune completion designs by modeling parameters such as the number of perf clusters and length of stages.
Libya to Sign Gas Deals with Italy's Eni, NOC's Bengdara Says
2023-01-26 - The deal involved the renewal of an existing agreement originally struck in 2008, according to Libya's National Oil Corp. head Farhat Bengdara.