While Baker Hughes renamed and expanded work at its Oklahoma City oil and gas research center, it also picked up new contracts.
The company announced Monday it was awarded a contract to develop a large part of Norway-based Equinor’s drilling and well construction expansion activities in the Norwegian sector of the North Sea.
It falls in line with Baker Hughes plans to grow internationally after it also received big contracts from Australia to Europe. The contracts go hand in had with the company’s renaming of the Oklahoma City research center to the new Energy Innovation center. There, the firm will also do more research into broader technologies and also opening so-called “incubators” to fund internal technology startups in the energy sector.
“A new product can typically take two to three years before it can be available and put to use at a customer site, said Derek Mathieson, Baker Hughes chief marketing and technology officer. “The unique challenges and evolving needs of our customers in North America require a new approach, so we have repositioned the center to dramatically accelerate technology development for better customer outcomes.”
On Monday, Baker Hughes also announced it won a new contract with Chevron’s Gorgon liquefied natural gas project offshore of Australia. Baker Hughes, according to the announcement will provide much of the subsea and well completion equipment and services.