Baker Hughes, a GE company Wins Large Scope in Equinor’s Drilling and Well Services Contract
Baker Hughes, a GE company (NYSE: BHGE) announced today that the company was awarded an integrated well services contract to
support a large proportion of Equinor’s drilling and well construction activities in the Norwegian sector of the North Sea for an
initial period of four years with options to extend by up to 10 years. This partnership aims to significantly improve operational
efficiencies and reduce well costs over the life of the project through a holistic and collaborative development approach.
BHGE secured a large scope in the award and will be the main drilling and well services provider for the eight rigs developing
Troll, Oseberg and Grane – three of the most prolific and active fields in the Norwegian Continental Shelf. Products and services
will include integrated drilling services, drill bits, cementing and pumping, drilling and completion fluids, electrical wireline
logging and completions. BHGE will also provide upper completions and mechanical well washing services for three other fields.
Lorenzo Simonelli, Chairman & CEO, BHGE said, “BHGE and Equinor have partnered on some of the most challenging and
groundbreaking projects in the North Sea. This agreement further cements our relationship with Equinor and demonstrates the value
that we can create through close, long-term collaboration with our customers that reduces overall cost and streamlines equipment
and service deliveries.”
BHGE has a long history of supporting Equinor’s operations, having provided advanced technology and services for some of the
company’s most transformational projects, and a track record of solving challenges in the North Sea’s complex drilling
environments. Currently, BHGE provides fully integrated well services on Equinor’s prolific Johan Sverdrup field as well as the
Askepott rig. On Johan Sverdrup, BHGE and the rig services provider completed the first eight wells eight months ahead of schedule
and achieved 50% reduction in drilling days and costs.
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.
Baker Hughes, a GE company
Stephanie Cathcart, +1 202 637 4108
Stephanie.Cathcart@bhge.com
or
Silvia Danti, +44 7827882812
Silvia.Danti@bhge.com
or
Investor Relations:
Philipp Mueller, +1 281 809 9088
investor.relations@BHGE.com
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