Baker Hughes and Aramco Unite to Boost Coiled Tubing Drilling

Expanding Coiled Tubing Drilling Operations

Baker Hughes, a recognized leader in energy technology, has embarked on an ambitious journey to expand its coiled tubing drilling operations in collaboration with Aramco. This partnership represents a significant milestone in increasing production efficiency in Saudi Arabia's natural gas market.

Weaving Technology and Expertise

Under a pivotal multi-year agreement, Baker Hughes is set to scale its underbalanced coiled tubing drilling (UBCTD) fleet from four to an impressive ten units. This increase is anticipated to greatly enhance the company's ability to undertake re-entry and greenfield drilling projects across various natural gas fields in the Kingdom.

This strategic expansion goes beyond merely increasing fleet size. Baker Hughes is integrating a suite of services that includes operational management, well construction, and geoscience expertise. By blending these elements, the company aims to not just meet current demands but to create pathways for efficient gas harvesting from both established and new fields.

Technology-Driven Solutions

One of the cornerstones of Baker Hughes' approach to UBCTD is its industry-leading CoilTrak™ bottomhole assembly system. This technology, paired with enhanced reservoir analytics from GaffneyCline™ energy advisory, equips drilling teams with the insight needed to navigate the complexities of subsurface environments effectively.

“Engaging advanced technology with a comprehensive strategy allows us to empower Aramco to access otherwise elusive hydrocarbons,” stated Amerino Gatti, Executive Vice President of Oilfield Services & Equipment at Baker Hughes. This collaboration sets a precedent that not only enhances efficiency but also promotes safer drilling practices, which are paramount in today’s energy industry.

Proven Track Record in Saudi Arabia

Baker Hughes has established itself as a reliable partner in Saudi Arabia's oil fields since it made its foray into the UBCTD market back in 2008. The company's commitment to safety, health, and environmental standards has been instrumental in its success, resulting in a strong operational track record through its existing fleet. The upcoming expansion is poised to build on this foundation, with work set to commence in 2026.

About Baker Hughes

Baker Hughes (NASDAQ: BKR) stands at the forefront of energy technology, delivering innovative solutions that align with the demands of energy and industrial sectors worldwide. With over a century of experience, the company operates in more than 120 countries. Baker Hughes’ offerings make energy safer, cleaner, and more efficient for both society and the environment.

Contact Information

If you seek further information or media inquiries, please reach out to the following contacts:

Media Relations

Brian Reynolds
+1 363-315-6663
brian.reynolds@bakerhughes.com

Investor Relations

Chase Mulvehill
+1 346-297-2561
investor.relations@bakerhughes.com

Frequently Asked Questions

What is the purpose of the agreement between Baker Hughes and Aramco?

The agreement aims to expand Baker Hughes' drilling capabilities in Saudi Arabia by increasing its fleet of coiled tubing drilling units from four to ten.

How will this expansion impact drilling operations?

The expansion will enhance Baker Hughes' ability to manage all aspects of underbalanced coiled tubing drilling operations, making it more efficient in accessing natural gas resources.

What technologies are involved in Baker Hughes' operations?

Baker Hughes utilizes advanced technologies such as the CoilTrak™ bottomhole assembly system and insights from GaffneyCline™ energy advisory to optimize drilling operations.

When is the expanded agreement scheduled to commence?

Work under the expanded agreement is expected to begin in 2026.

How has Baker Hughes performed in Saudi Arabia previously?

The company has maintained a strong health, safety, and environmental record and has been successful in its UBCTD operations in Saudi Arabia since 2008.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

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