Baker Hughes To Sell Its Natural Gas Solutions Business
Baker Hughes, a GE company (BHGE), has agreed to sell its natural gas solutions (NGS) business to two separate entities, First Reserve and Pietro Fiorentini, for a combined value of $375 million. NGS is part of BHGE’s Turbomachinery & Process Solutions (TPS) segment, providing commercial and industrial products such as gas meters, chemical injection pumps, pipeline repair products, and electric actuators.
GE acquired the division in 2011 when it bought Dresser Inc. for $3 billion.
First Reserve, a global private equity investment firm focused exclusively on energy, will buy the NGS product line. This transaction includes the transfer of approximately 450 employees located in eight countries, including three manufacturing sites in North America and the UK.
In a separate transaction, Pietro Fiorentini will buy the Talamona, Italy, branch of BHGE’s NGS product line. The transaction includes the transfer of approximately 40 employees and a manufacturing site in Talamona.
Both transactions are expected to close in the second half of 2018; financial terms of the agreements were not disclosed.
Shell, NNPC Invite Bidders on Bonga South West Deepwater Project
The announcement comes 7 months after the two received permission to begin the tendering process for the project offshore Nigeria, which is expected to carry a peak production of 225,000 BOPD by 2022.
How To Find the Right Data System for Equipment Inspections
Inspection data management system software can help companies bolster their mechanical integrity programs, but choosing the wrong software can have a lasting impact on a company’s operations. So, what goes into finding the right software for your needs?
DCN Diving Nets Dana Petroleum Deal
DCN will execute fabrication, installation, and precommissioning of various components for a gas export pipeline from two platforms in the Dutch North Sea.
Don't miss out on the latest technology delivered to your email every two weeks. Sign up for the OGF newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
11 February 2019
30 January 2019
04 February 2019
28 January 2019