By John Lee. Baker Hughes has announced that a protest incident by local residents occurred last Saturday at a subsidiary's facility near Basra. No injuries were suffered and the facility was secured. The incident is currently under investigation. Due to the significant disruption of business, Baker Hughes has suspended operations in Iraq, and has issued […]
By John Lee. An article from Seeking Alpha speculates that Iraq could provide solid opportunities to oil field services firms like Baker Hughes, but points out that there are significant risks and issues that need to be addressed before international firms can participate wholeheartedly in this promising market. Baker Hughes has been making steady progress […]
By John Lee. Baker Hughes has included Iraq in its international survey of rotary drilling rigs for the first time since 1990. The Baker Hughes Rig Counts are an important business barometer for the drilling industry and its suppliers. When drilling rigs are active they consume products and services produced by the oil service industry. […]
LUKOIL started production drilling and construction of a key production facility, namely a Central Processing Facility, at the West Qurna-2 field in Iraq on Wednesday. Abdel Karim al-Luaibi, the Iraqi Oil Minister, and also the heads of the Basra province, Iraq's South Oil Company, LUKOIL Overseas and of the major contractor companies Baker Hughes and […]
Baker Hughes has joined BP and Schlumberger on separate talks with Iraq to more than double the output from the giant Kirkuk oil field in northern Iraq, according to Dow Jones. "Iraq is conducting preliminary talks with these three companies to examine plans to develop the field," an Iraqi oil industry figure said on Monday. […]
Baker Hughes (BHI) has secured a $640 million contract to drill 60 wells at Iraq's southern Zubair oil field, according to a report from Dow Jones. Iraqi government spokesman Ali Al Dabbagh reportedly said on Tuesday that the Iraqi government and the consortium led by Italy's Eni had awarded the contract to an unnamed U.S. […]
Baker Hughes will drill 23 new wells in Iraq’s largest oil field, West Qurna 2, after signing a contract with Russia’s second largest oil company, Lukoil. Baker Hughes will use five rigs using advanced technology to drill the wells to a depth exceeding 4,000 meters, the statement said. "Drilling will begin in the fourth quarter of […]
Baker Hughes, the world's third largest oilfield services firm, expects drilling activity to pick up in Opec-members Saudi Arabia and Iraq from the second half of this year as delayed projects restart, Reuters reported on Wednesday. "For the second half of 2011, we expect activity to increase, especially if you look at Saudi and Iraq," […]
MEED reports that prospects look good for the only oil services companies eligible to bid for work on Iraq’s oil fields. At the Adipec oil and gas conference, which took place between 1-4 November in Abu Dhabi, the stands belonging to the ‘big four’ US oilfield services companies -- Schlumberger, Baker Hughes, Halliburton and Weatherford […]
Baker Hughes (NYSE: BHI) announced it has signed a three-year strategic alliance with Iraq’s South Oil Company (SOC) to provide technical services to SOC’s wireline logging department in Burj Esya, Basra south Iraq. Under the terms of the technical services agreement (TSA), Baker Hughes will supply wireline technologies to SOC and other Iraqi oil and […]
Schlumberger Ltd., Halliburton Co. and Baker Hughes Inc. are among companies this past week that said they’re expanding operations in Iraq. Weatherford International Ltd., the fourth- largest oilfield-services provider by market value, will expand staff in Iraq to more than 1,000 by July, Chief Executive Officer Bernard Duroc-Danner told investors yesterday
