
A Baker Hughes engineer mixes chemicals in a testing laboratory. (Source: Baker Hughes)
Baker Hughes and Saudi Arabia's state-owned Dussur will form a joint venture focused on providing oilfield services and industrial chemicals in the country, the companies said on March 29.
Texas-based oilfield services provider Baker Hughes will hold 51% of the joint venture under the agreement that is expected to close in the third quarter.
Dussur, or Saudi Arabian Industrial Investments Company, is owned by the nation's sovereign wealth fund (PIF), oil company Saudi Aramco and SABIC, the world's fourth-biggest petrochemicals firm.
The joint venture will continue to operate under the Baker Hughes brand, and its manufacturing facility in Jubail City will supply chemicals focused on the needs of Saudi Arabia.
In 2020, Baker Hughes formed a joint venture called Novel with Saudi Aramco to develop non-metallic products for multiple applications in the energy sector.
Recommended Reading
California Resources Continues to Curb Emissions, This Time Using CCS for Cement
2025-03-04 - California Resources’ carbon management business Carbon TerraVault plans to break ground on its first CCS project in second-quarter 2025.
BKV Reaches FID, Forms Midstream Partnership for Eagle Ford CCS Project
2025-02-13 - If all required permits are secured, BKV’s CCS project in the Eagle Ford Shale will begin full operations in first-quarter 2026, the Barnett natural gas producer says.
Could EPA’s GHG Rule for Power Plants Give CCS a Boost?
2025-03-05 - Economics and policy are impacting the pace of carbon capture and storage project growth in the U.S. but some companies are pressing ahead.
CF Industries Form JV to Build $4B Low-Carbon Ammonia Project in Louisiana
2025-04-08 - CF Industries has reached a FID with JERA and Mitsui for an ammonia production facility in Louisiana. CF Industries sealed a deal with Occidental’s 1PointFive to capture and store CO2 from the facility.
API’s Multi-Pronged Approach to Lower Carbon Operations
2025-01-28 - API has published nearly 100 standards addressing environmental performance and emissions reduction, which are constantly reviewed to support low carbon operations without compromising U.S. energy security.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.