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Baker Hughes, Akastor merging oil drilling ops, eye IPO Baker Hughes and Norway’s Akastor plan to merge their offshore oil drilling equipment units to combine their complementary technologies, with a view to listing the new company longer term, they said on Tuesday. Demand for new drilling equipment has been weak amid the COVID-19 pandemic and last year’s plunge in the price of oil, and the companies said proforma revenue for the new unit declined by 16% in 2020 to $713 million. Combining the drilling technology of Akastor’s MHWirth, which sits on top of an oil rig, with seabed pressure control units made by Baker Hughes Subsea Drilling Systems (SDS), will cut costs and create a complete product offering, Akastor told Reuters.

Vest agderUnited statesTerje solsvikOeyvind paaskeJason neelyAkastor mhwirthSusan fentonBaker hughesBaker hughes subsea drilling systemsChief financial officer oeyvind paaskeஒன்றுபட்டது மாநிலங்களில்ஜேசன் நீலீசூசன் ஃபெண்டன்ரொட்டி சுடுபவர் ஹக்ஸ்ரொட்டி சுடுபவர் ஹக்ஸ் ஸப்‌ஸீ துளையிடுதல் அமைப்புகள்