Baker Hughes, MHWirth Create Offshore Drilling Solutions Firm
Baker Hughes’ Subsea Drilling Systems business and Akastor’s wholly-owned subsidiary, MHWirth, have completed their merger into a global offshore drilling solutions company.
The new company, which will be known as HMH, combines integrated delivery capabilities, capital, industry expertise and delivers the full range of offshore drilling equipment products and packages at scale.
Baker Hughes stated that HMH would support the industry’s transition toward more energy-efficient solutions as well as deploying technologies and service solutions to make the sector more competitive through increased drilling efficiency.
To remind, Baker Hughes and Akastor agreed in March this year that each company would own equal equity in the new company, effective from October 1, 2021.
HMH is headquartered in Amsterdam, Netherlands, with its two major operational centers in Houston, USA, and Kristiansand, Norway.
“This is a very exciting transaction for the industry, our customers, shareholders, and employees. We are combining two of the best-known equipment manufacturers in our industry to create HMH, building on a best-in-class portfolio and unparalleled full-service approach,” chairman and CEO of HMH Pete A. Miller said.
“At a time of worldwide energy transition, HMH has the expertise to help the entire industry move towards more energy-efficient drilling and other sustainable energy solutions,” he added.
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