- Conventional stimulation and well-testing contract will enhance production from new and existing wells for up to five years
- BHGE leveraging comprehensive approach to improve efficiency and reduce costs for Saudi Aramco
- Contract supports IKTVA initiative through the creation of new engineering, field services and project management jobs for Saudi professionals
Baker Hughes, a GE company (NYSE:BHGE) has been awarded a major stimulation and well-testing contract by Saudi Aramco to be a partner in optimizing production from new and existing wells across conventional fields in Saudi Arabia.
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. By integrating discrete products, services and capabilities into a single offering, BHGE will help Saudi Aramco reduce time, costs and complexity while increasing efficiency.
The three-year contract includes the option of two one-year extensions and the project is expected to commence in December 2018. The work is expected to create more than 200 new engineering, field services and project management jobs, and indirectly supports an additional 300 existing jobs, further demonstrating BHGE’s ongoing commitment to support Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) initiative.
Mohammed Y. Al Qahtani, Senior Vice President 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 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,” said Lorenzo Simonelli, chairman 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.”
With over 2,700 employees in the country, BHGE has more than 10 facilities for manufacturing, maintenance and R&D in the Kingdom. The company has over 1,350 Saudi suppliers in its supply chain and has helped create over 5,300 indirect jobs.
BHGE’s footprint includes an assembly, maintenance and overhaul workshop; a drill bits manufacturing facility that exports to over 40 countries; a completions and well intervention facility; a pressure control facility that is the largest and one of the most advanced by BHGE in the region with the manufacturing done entirely in the Kingdom; the Dhahran Technology Center that has over 15 R&D projects and has filed over 30 patents; an artificial lift facility that partners with 120 local suppliers; a turbomachinery processes and services facility; and one of the first and largest chemical blending plants in the Kingdom.
About Baker Hughes, a GE company:
Baker Hughes, a GE company (NYSE: BHGE) is the world’s first and only fullstream provider of integrated oilfield products, services and digital solutions. We deploy minds and machines to enhance customer productivity, safety and environmental stewardship, while minimizing costs and risks at every step of the energy value chain. With operations in over 120 countries, we infuse over a century of experience with the spirit of a startup – inventing smarter ways to bring energy to the world. Visit us at BHGE.com.