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Baker Hughes and Akastor announce JV company to deliver global offshore drilling solutions

Baker Hughes and Akastor have announced an agreement to create a joint venture company that will bring together Baker Hughes Subsea Drilling Systems (SDS) business with Akastor s wholly owned subsidiary, MHWirth. The Company will deliver a global full-service offshore drilling equipment offering that will provide customers with a broad portfolio of products and services. ....

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Baker Hughes, Akastor merging oil drilling ops, eye IPO | Hellenic Shipping News Worldwide

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. ....

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Baker Hughes and Akastor ASA announce joint venture company to deliver global offshore drilling solutions

Baker Hughes and Akastor ASA announce joint venture company to deliver global offshore drilling solutions
finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.

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Akastor ASA: Baker Hughes and Akastor ASA announce joint venture company to deliver global offshore drilling solutions

Akastor ASA: Baker Hughes and Akastor ASA announce joint venture company to deliver global offshore drilling solutions
prnewswire.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.co.uk Daily Mail and Mail on Sunday newspapers.

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