Oilfield Services giant Baker Hughes is ready to invest $80 million on a headquarter located in Dubai, according to Emirates Business. The Middle East, Asia Pacific headquarters follows Houston-based Halliburton, which moved its headquarters to Dubai in 2007.
Baker Hughes Assistant Director of Investor Relations Gene Shiels told Rigzone that the facility in Dubai is a "huge" project that incorporates four phases: a training facility, the headquarters, a repair and maintenance section, and a manufacturing area.
"With all the people we are hiring in the East, you can imagine how hard it is to get Visas [for entry] into Aberdeen and Houston for training," said Shiels.
The training facility and headquarters are opening this week, and the repair/maintenance and manufacturing phases of the facility will open "around the middle of the year," said Shiels.
"This is a big deal to everyone over there," he added.
Baker Hughes CEO and Chairman Chad Deaton told Emirates Business, the Dubai-based daily, that the new headquarters will be located on a 25-acre site in the Jebel Ali free zone. The facility will be the workplace of around 800 full-time employees.
Deaton pointed to growth outside of North America as a main factor in the move.
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