Baker Hughes has acquired all of the outstanding
share capital of Zeroth Technology Limited ("Zertech"), a privately owned
company based in Aberdeen, Scotland. Zertech has developed and patented a
unique, non-elastomer, expandable metal sealing element that is currently
marketed in well intervention applications. Zertech's current customers
include major oil and gas exploration and production companies in the United
Kingdom, Norway and the Middle East. Interest in its sealing technology is
growing in other producing areas of the world.
Zertech was recently awarded the International Coiled Tubing Association
European Chapter Award for Innovation and Technology. This award is presented
annually to recognize oilfield operating and service companies who demonstrate
the application of technical innovation in the area of well intervention.