Baker Hughes Secures 8-Year Production Chemicals Contract from Statoil

Baker Hughes announced Thursday that it has secured an eight year contract from Statoil to design and supply production chemicals to the offshore Norne and Aasta Hansteen fields, located in the Norwegian Sea.

Work on the contract is expected to begin later this month. The Norne field was initially scheduled to be shut down last year, but through systemic maintenance and advancements in technology it is now expected to produce until 2030. Aasta Hansteen, the first deep-water development in the Norwegian Sea, is anticipated to commence production in 2017 until beyond 2030.

Ruben DeVelasco, vice president of upstream chemicals for Baker Hughes, commented in a company statement:

"This award demonstrates our commitment to continuous innovation of offshore and deep-water solutions. By combining our expertise with the right technology, we believe that we can help increase production and maximize profits throughout the life of the fields."

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