Baker Hughes

As part of a deal that could net up to $3 billion, GE will lose majority control of Baker Hughes just two years after it acquired the oilfield service company.

The reciprocating compression division manufactures and services compression and engine systems that are used in a variety of applications, including the transmission of natural gas across domestic and international pipelines.

Baker Hughes is still a GE company, but it has partnered with a second company for artificial intelligence expertise, C3.ai. The deal is expected to speed the integration of AI into oilfield operations by the company which also markets GE’s device analytics platform, Predix.

Baker Hughes, a GE company, (BHGE) and C3.ai announced a joint venture agreement that brings together BHGE’s fullstream oil and gas expertise with C3.ai’s unique artificial-intelligence software suite to deliver digital transformation technologies and drive productivity for the oil and gas industry.

New analysis from Rystad Energy shows service companies are beginning to raise prices after seeing a significant drop following the oil price downturn. Pricing power is projected to keep rising in 2020 as the service industry sees more demand across the supply chain.

The facility will serve as a hub to support customers and projects in the Angola and Southern Africa region.

The three largest service companies are optimistic about the rest of 2019.

Women in PE make significant technical contributions and bring value-adding attributes and perspectives to the industry

The Golden Pass LNG export project got the go-ahead for a $1-billion liquefaction development. Baker Hughes will supply turbomachinery equipment for three LNG trains. Startup is expected in 2024.

Drones will be just one of the tools that the service company uses in its drive toward net-zero carbon emissions.