Baker Hughes Wins Kazakhstan Contract for Integrated Oilfield Service.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--Nov. 14, 2000 Baker Hughes Baker Hughes NYSE: BHI is the world's third-largest oilfield services company behind Schlumberger & Halliburton, its main competitors. Baker Hughes provides the world's oil & gas industry with products and services for drilling, formation evaluation, completion and production. Incorporated (NYSE NYSE See: New York Stock Exchange :BHI BHI Baker Hughes Incorporated BHI Brain Heart Infusion (agar) BHI Better Hearing Institute BHI British Horological Institute (UK) BHI Boots Healthcare International BHI Branch If Higher )(PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. :BHI)(EBS See Swiss Electronic Bourse. EBS See electronic blue sheet (EBS). :BHI) has won a contract from the Karachaganak Petroleum Operating (KPO KPO Knowledge Process Outsourcing KPO Kenai Peninsula Orchestra (Alaska) KPO Keypunch Operator KPO Kensington Philharmonic Orchestra (UK) KPO Pohang, South Korea - Na (Airport Code) ) consortium to provide all integrated services for their Karachaganak field. The three-year contract, with an option for an additional three years, covers all rigsite and associated offsite services. Baker Hughes will provide completions, wireline logging, and drilling products and services. The KPO consortium comprises AGIP S.p.A., BG Exploration and Production Ltd., Texaco Inc., and LUKoil. Under the terms of the contract, Baker Hughes would provide services for KPO to develop the Karachaganak field. Located onshore north of the Caspian Sea and south of the border with Russia near Orenburg, the Karachaganak field, discovered in 1979, is one of the largest gas condensate fields in the world. It currently produces an average of 50,000 barrels of condensate and 250 million cubic feet of gas per day. "This is an important contract for Baker Hughes," said Andrew J. Szescila, senior vice president and president of oilfield operations. "We believe strongly in the future of the oilfield in Kazakhstan and the significant role Baker Hughes can play in helping lower production costs and improve drilling efficiency." The KPO contract includes a commitment to the training and development of Kazakhstan nationals and alliances to further develop the infrastructure in Kazakhstan to support the anticipated growth in oilfield activity. Baker Hughes is a leading supplier of products, services and systems for the worldwide oil and gas industry. NOT INTENDED FOR BENEFICIAL HOLDERS |
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