Baker Hughes Acquires Zeroth Technology Limited

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.