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
USA Compression Names Chris Wauson as COO
2025-03-07 - Chris Wauson, currently the leader of natural gas compression company USA Compression Partners’ Permian office, has been chosen as the company’s new COO.
Williams Cos. COO Dunn to Retire
2025-03-13 - Williams Cos. COO Micheal Dunn was crediting with helping the company focus on a natural gas strategy.
Chevron Technology Ventures Would Like to See the Manager
2025-03-13 - Chevron Corp.’s Chevron Technology Ventures, which turns 25 this year, pays close attention to leadership teams when making investment decisions in technology startups.
Expand Appoints Dan Turco to EVP of Marketing, Commercial
2025-02-13 - Expand Energy Corp. has appointed industry veteran Dan Turco as executive vice president of marketing and commercial.
SM Energy Restructures Leadership Team
2025-02-20 - SM Energy Co. has made several officer appointments and announced the retirement of Jennifer Martin Samuels, the company’s vice president of investor relations and ESG stewardship.
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.