Baker Hughes wins Saudi Aramco well services contract
(12/5/2018 7:38:00 AM)
Leading oilfield services provider Baker Hughes, a GE company, said it has been awarded a major stimulation and well-testing contract by Saudi Aramco to be a partner in optimising production from new and existing wells across conventional fields in the kingdom.
Demonstrating the strength and breadth of its expertise and portfolio of oilfield services, BHGE will deliver a comprehensive well services solution including all cased-hole wireline logging, perforation, well testing, stimulation, fracturing and associated intervention services, said the company in a statement.
By integrating discrete products, services and capabilities into a single offering, BHGE will help Saudi Aramco reduce time, costs and complexity while increasing efficiency, it stated.
The three-year contract includes the option of two one-year extensions and the project is expected to commence this month, it added. Mohammed Y. Al Qahtani, the senior VP of Upstream at Saudi Aramco, said: "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."
The work is expected to create more than 200 new engineering, field services and project management jobs, and indirectly support an additional 300 existing jobs, further demonstrating BHGE’s ongoing commitment to support Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) initiative, it stated.
With over 2,700 employees in the country, BHGE has more than 10 facilities for manufacturing, maintenance and research and development in the kingdom. The company has over 1,350 Saudi suppliers in its supply chain and has helped create over 5,300 indirect jobs, it added.
"The contract underpins the strength of our portfolio and demonstrates our ability to deliver comprehensive well solutions to improve productivity, reliability and efficiency for our customers," remarked Lorenzo Simonelli, chairman, president and CEO of BHGE.
"As a long-term partner supporting the kingdom’s oil and gas sector, we are committed to bringing advanced technology and service solutions that will help deliver significant levels of upstream productivity and support Saudi Arabia’s strategy to increase gas production for both local consumption and export," he added.