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Baker Hughes, a GE company Wins Large Scope in Equinors Drilling and Well Services Contract

Baker Hughes, a GE company (NYSE: BHGE) announced today that the company
was awarded an integrated well services contract to support a large
proportion of Equinor’s drilling and well construction activities in the
Norwegian sector of the North Sea for an initial period of four years
with options to extend by up to 10 years. This partnership aims to
significantly improve operational efficiencies and reduce well costs
over the life of the project through a holistic and collaborative
development approach.

BHGE secured a large scope in the award and will be the main drilling
and well services provider for the eight rigs developing Troll, Oseberg
and Grane – three of the most prolific and active fields in the
Norwegian Continental Shelf. Products and services will include
integrated drilling services, drill bits, cementing and pumping,
drilling and completion fluids, electrical wireline logging and
completions. BHGE will also provide upper completions and mechanical
well washing services for three other fields.

Lorenzo Simonelli, Chairman & CEO, BHGE said, “BHGE and Equinor have
partnered on some of the most challenging and groundbreaking projects in
the North Sea. This agreement further cements our relationship with
Equinor and demonstrates the value that we can create through close,
long-term collaboration with our customers that reduces overall cost and
streamlines equipment and service deliveries.”

BHGE has a long history of supporting Equinor’s operations, having
provided advanced technology and services for some of the company’s most
transformational projects, and a track record of solving challenges in
the North Sea’s complex drilling environments. Currently, BHGE provides
fully integrated well services on Equinor’s prolific Johan Sverdrup
field as well as the Askepott rig. On Johan Sverdrup, BHGE and the rig
services provider completed the first eight wells eight months ahead of
schedule and achieved 50% reduction in drilling days and costs.

About Baker Hughes, a GE company

Baker Hughes, a GE company (NYSE: BHGE) is the world’s first and only
fullstream provider of integrated oilfield products, services and
digital solutions. We deploy minds and machines to enhance customer
productivity, safety and environmental stewardship, while minimizing
costs and risks at every step of the energy value chain. With operations
in over 120 countries, we infuse over a century of experience with the
spirit of a startup – inventing smarter ways to bring energy to the
world. Visit us at BHGE.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180618005510/en/