Oil and gas service company "Baker Hughes" (Baker Hughes). The President of the company

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2020-03-19 11:20:24

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Describing the activities headed by the Corporation in Russia, Chairman of the Board of Directors and the head of the American company Baker Hughes, Martin Craighead, said that our country is one of the largest production and export of oil and gas in the world. In addition, it while there is enormous untapped reserves of hydrocarbons. Interest Baker Hughes Russia based on these fundamental business factors.

The largest

One of the largest oil companies in the world "Baker Hughes» was founded in the beginning of the last century in the United States. Today the total staff of the manufacturing giant is about 30 thousand people working around the globe. The largest intelligence project to identify oil and gas, the latest technology for their production – all "Baker Hughes". Subsidiaries of the company provide equipment for development and drilling, not only themselves, but partners in more than 120 countries of the world.

Baker Hughes

Today, the giant includes a number of powerful associations, among them such famous as ‘Baker Petrolayt”, “cost-trilight”, “INTEK” and others. In addition to the discovery and exploitation of valuable deposits of fuel resources the company's specialists are assessing the reservoir parameters, develop new technologies for the efficient extraction of raw materials. For a century conquering new territory and engaging in partnerships with other giants of the oil and gas industry, "Baker Hughes" among the three largest world companies working in this direction.

From the creators of – followers

In the tenth years of the last century by inventors Walter sharp and Howard Hughes have developed a unique rolling cutter drill bit. Holding his invention in secret, he conducted two tests, one of which failed. However, the second showed that the new device is able to turn the idea of the oil producers for drilling of wells.

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A year later, the entrepreneurs received a patent for his invention and founded the Texas Sharp-Hughes Tool Company. With the death of Walter Sharpe in 1912, part of the Hughes bought the business and renamed the company Hughes Tool Company. It happened three years after the death of Sharpe.

In those years, there, in the United States, was founded by another company – Baker International. Its founder was the inventor of the Baker, who developed a unique in its properties to the cable for drilling. The patent for this discovery he received in 1907. And by 1928 th future oil giant gave his creation a new name – Baker OilT ools, Inc. Thirty years after the death of Baker, who died in 1956, his company entered a new stage of its development through the merger with Hughes Tool Company. The merged organization was named Baker Hughes.

Absorption and merging

By Combining their assets, two of the oil giant for many years dominated the world market. To hold this level and further, need a new infusion. In 2014, the company "Baker Hughes" the beginning of merger talks with one of the world's largest Corporation on the provision of services in the oil and gas – Halliburton. The latest technology developed by experts Halliburton, the state of which has about 70 thousand people, could contribute to the development of more powerful "Baker Hughes".

baker hughes

Interest in the deal showed the two companies, hoping to create the most powerful force that can lead the world market of oil and gas. "Baker Hughes" was even ready to go at a bargain by absorption of the company by Halliburton Corporation. The amount, announced in a press release, was nearly 35 billion dollars. However, six months after the start of negotiations on a takeover, Halliburton announced the cancellation of the deal as disadvantageous. BakerHughes had to find a new partner.

Assets "Baker Hughes»

Specialists in the design and construction of gas and oil fields equal to working in this organization, boasts rare company. They also determine the most effective technology for commercial treatment of certain deposits of blanket gas, the required number of drilling rigs at the field and decide a number of other important production tasks.

company Baker Hughes

Having a highly-qualified staff and the latest production equipment, one of the leading U.S. producing companies are able to count on the cooperation with many companies in the world. Special interest "Baker Hughes" apply to rich fuel resources of the state. Once leading in these countries, the Corporation eventually became part of the us oil giant. But the backbone of the company amounted to us firms. At different times in the "Baker Hughes» joined: a leading manufacturer of components for drilling rigs Elder Oil Tools, a developer of drilling fluids Newpark Milchemand, supplier of lifting equipment Centrilift and many other corporations. Until 2017, Chairman of the Board of Directors and the head was Baker Hughes Martin Craighead.

Geography missions

Over the century of its existence, "Baker Hughes" regularly increasing technological and economic power byreduce production costs and increase profitability. The largest market for the company's products – United States of America, ibid., in the state of Texas, located its headquarters. However, the HSE ‘Baker Hughes" posted around the world. The Corporation is actively developing field in the North sea, Latin America, the Asia-Pacific region, the middle East, the Caspian, the Mediterranean, on the coast of West Africa.

rigs Baker Hughes

The Most significant subsidiaries of the company with its own offices and research centers located in Aberdeen and Hartlepool (UK), Kuala Lumpur (Malaysia), Pescara (Italy), Celle (Germany), Aktau (Kazakhstan), Dubai (UAE). But most of them are located in the United States and Russia.

Map of Russia

Several Russian regions were in the area of interests "Baker Hughes" when the company began to expand its zone of influence on the oil and gas market, developing new geographic area. Tyumen, Orenburg, Moscow, Noyabrsk, Nizhnevartovsk – the city where the offices of the company. And of course, the U.S. holding company that focuses on its own development and owning many research centers, couldn't bypass the attention of Novosibirsk, which is world famous for its unique scientific basis. In this Russian region focused almost main assets company in our country. In Novosibirsk, the most active is one of the divisions of the American giant – “Baker Atlas”. Also a large multidisciplinary database deployed on Sakhalin.

The company's Subsidiaries operating in Russia, was, both here and abroad, mainly in the United States. So, in our capital “register” AO "Baker Hughes". Moscow raised the American partners here are located the main offices of the leading Russian oil, gas and chemical companies. A US registered company "Baker Hughes Russia Inc", whose title speaks for itself.

Mutually beneficial partnership

The Beginning of activity in Russia began for the American giant in the distant 70-ies of the last century with the delivery of oil and gas equipment to Soviet enterprises. Subsequently, our Western partners have paid their interests in the exploration and production of raw materials, gradually increasing its activity in this direction and gaining contacts. Currently, joint-stock company "Baker Hughes" is aimed at comprehensive development of its activities in the Russian regions, especially in Siberia.

Baker Hughes Moscow

For Many years the U.S. holding company only provided the construction of horizontal, multilateral wells to Russian organizations by connecting to them only at the last stage of development. Used when this technology was developed specifically for local conditions. They are allowed to migrate to the stocks of raw materials deep in the solid rock. First specialists attracted with the development of the oil fields for years, hooked up for gas production.

New link

At the beginning of 2017 two powerful American Corporation announced the merger by absorption of the Baker Hughes group General Electric specializing in the production of industrial and military equipment. The joint organization was to include “daughter” GE – GE Oil & Gas, focused on the mechanized extraction of gas. Released in a joint press release it was announced that by pooling their assets and distributing 120 of interest to their States, the company expects in the coming year to increase shared revenue to $ 32 billion.

joint stock company Baker Hughes

The pending deal was approved by the boards of Directors of both companies unanimously. And by July 2017, the agreement was signed. By its terms, 62.5 percent stake in the merged Corporation became the property of GE Company. Its headquarters are located in Texas, in Houston and in London – London. After the announcement of the successful conclusion of the transaction, the company's shares rose in price. The projected increase in profit was to bear fruit.

Roles

Working in the field of infrastructure projects and mass-media General Electric has breathed new life into "Baker Hughes". Drilling USA, Asia and the Pacific, the Mediterranean, the Middle East and other regions where oil and gas giant has its «daughters», aimed at the quick reconstruction of the installations, which will lead to more production and exploitation of raw materials.

Baker Hughes drilling USA

In a press release about the merger has been registered in advance the distribution of roles in a single Board of Directors of the Corporation. The post of Chairman is assigned to the CEO of GE Jeff Immelt. The head of GE Oil & Gas Lorenzo Simonelli is supposed to take the place of the President and the head of the combined company, and the Chairman of the Board of Directors and head of the Baker Hughes Martin Craighead – the chair of its Vice-Chairman. Initially, even before the merger both the Board of Directors supported the relevant destination.

Out of competition

On average, after the merger, the value of GE stock, and therefore Baker Hughes, rose slightly, but in 2018 it is expected to increase by 0.04 per dollar, and by 2020 – 0.08.All the shareholders of the combined Corporation following the transaction increased their personal assets, to a greater extent until it touched the owners of oil and gas companies. The value of each security was estimated to 17.50 dollars. In addition, the combined company they will get a share of 37.5%. By 2020, the significant growth in profits will be felt in their Bank accounts, all the shareholders of GE Company.

Before the merger of the three best corporations in the world, supplying equipment and technologies for oil and gas industry, was listed as "Baker Hughes". Of the company after the merger with GE, it will become clear in the next few months, as time after the merger of two leading global corporations was not so much. Radically changing the type of activity will not happen. However, you may change the number of regions of its influence.


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Alin Trodden - author of the article, editor
"Hi, I'm Alin Trodden. I write texts, read books, and look for impressions. And I'm not bad at telling you about it. I am always happy to participate in interesting projects."

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