Abu Dhabi – Mubasher: The US-based oilfield services company Baker Hughes is reportedly negotiating a deal with Abu Dhabi National Oil Company (Adnoc) to acquire a minority stake in the energy giant’s drilling unit.
Adnoc is discussing with Moelis & Co and other companies the formation of an alliance, Arabian Business reported, citing informed sources.
However, parties did not reach an agreement, the sources added.
Moelis and Baker Hughes refused to give any comment on the matter, while Adnoc’s spokesman said that his company “has expanded its strategic partnership model and is exploring multiple opportunities”, Arabian Business revealed.
Adnoc will notify the market of any updates, the spokesman added.
