BHGE Inks 3-year Contract with Saudi Aramco
Saudi Aramco has awarded major stimulation and well-testing contract to Baker Hughes, a GE company (BHGE).
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,” Lorenzo said.