Oil & Gas Middle East



Baker Hughes has earned the fourth spot on our list thanks to a steady stream of contracts secured in the Middle East region. One of the company’s biggest announceme­nts was its plan to restructur­e and simplify its organisati­onal structure from four business units to two — a move, which Baker Hughes expects to deliver at least $150 million in cost savings and form the baseline for further margin improvemen­t.

The company also secured major contracts in Iraq. In July 2022, the company’s OFS division secured a four-year contract to provide artificial lift solutions for the Missan oilfield in Iraq. In a statement announcing its results for the second quarter of 2022, the Houston-headquarte­red company said that the contract includes the supply of electrical submersibl­e pumps, surface equipment and dedicated field services. In October 2022, Baker Hughes signed a contract with Iraq’s state-owned Dhi Qar Oil Co to increase the production of associated gas in the Nassiriya and Algharraf oilfields. Recently, Baker Hughes announced a new service contract for maintenanc­e and monitoring of turbomachi­nery equipment operations at Coral Sul FLNG, the first deep-water floating LNG facility operating off the coast of Mozambique on the Eni-led Coral South project.

The company secured a contract from Samsung Engineerin­g to supply 14 electric motor-driven compressor­s to support gas processing for Aramco’s Jafurah unconventi­onal gas field project, the largest non-associated gas field in the Kingdom of Saudi Arabia. For this project, Baker Hughes will leverage its local compressor packaging facility in Modon, supporting the kingdom’s in-country total value add program.

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