Baker Hughes to Resume Operations

Baker Hughes is preparing to resume operations in Iraq after protests in Basra prompted the company to issue force majeure notices to its customers.

Reuters reports that Derek Mathieson, Baker Hughes' vice president, told an investor conference:

"We have initiated the resumption of operations ... Within the coming weeks, we will be working toward becoming fully operational."

He said the company has been working with local authorities to ensure the safety of its workers and has received assurances that there will be additional security forces, adding that before the shutdown, Iraq was contributing about $50 million a month to Baker Hughes' Middle East Asia-Pacific region.

(Source: Reuters)

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