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Baker Hughes and Saudi Dussur join forces on chemical project

 Last Update: 2022-04-26
 Source: Internet
 Author: User

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Baker Hughes and Saudi Arabia's state-owned Dussur have agreed to form a joint venture focused on providing oilfield services and industrial chemicals in the country, according to Hydrocarbon Processing News March 29

Under the agreement, expected to close in the third quarter, Texas oilfield services provider Baker Hughes will hold a 51 percent stake in the joint venture

Dussur, the Saudi Arabian Industrial Investment Company, is owned by the country's sovereign wealth fund, Saudi Aramco and the world's fourth-largest petrochemical company, SABIC

The joint venture will continue to operate under the Baker Hughes brand, and its manufacturing facility in the city of Jubail will supply chemicals focused on Saudi Arabia's needs

In 2020, Baker Hughes and Saudi Aramco formed a joint venture called Novel to develop non-metallic products for a variety of applications in the energy sector

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