Riyadh – Mubasher: Saudi Arabian Oil Co, known globally as Saudi Aramco, on Tuesday announced that it has awarded a major stimulation and well-testing contract to the US-based Baker Hughes.
The three-year contract may be extended for one or two years, upon the approval of the two parties.
Under this deal, Baker Hughes, which is a subsidiary of US industrial conglomerate General Electric (GE), will be a partner in optimising production from existing and new wells in the kingdoms’ fields, according to an official statement.
BHGA will also offer a full-fledged well services solution to Aramco, comprising fracturing and associated intervention, stimulation, well testing, perforation, and all cased-hole wireline logging.
The US firm’s services are expected to help the Saudi oil giant in boosting efficiency and trimming time, costs and complexity.
The deal is forecast to provide over 200 job opportunities in project management, engineering, and field services sectors, the statement said, giving no further details on its value.
“The contract further reinforces our integration efforts across conventional fields in Saudi Arabia, helping maintain capacity and meet domestic and global demand. We are pleased to work with BHGE as a partner with proven expertise in country,” Aramco’s senior vice president of Upstream Mohammed Y. Al Qahtani said.
This collaboration increases Baker Hughes’ presence in Saudi Arabia,provides cutting-edge solutions in the kingdom’s oil and gas sector and boosts its efficiency, production, and reliability, Lorenzo Simonelli, chairman, president and CEO of BHGE commented.
