Presentation

In March 2021, Baker Hughes’ Subsea Drilling Systems and Akastor’s fully owned subsidiary MHWirth announced an agreement to form a 50/50 joint venture company. Baker Hughes’ SDS business adds the BOP offering to MHWirth’s topsides and risers, and JV will thus have a full-service offshore drilling equipment and service offering. In addition, it will position itself for the industry’s a transition to more energy-efficient solutions. The transaction is set to be completed H2’21 and will be owned 50/50 by Baker Hughes and Akastor. The JV company will be headquartered in both Huston, Texas and Kristiansand, Norway.

The new JV will be among the market leaders with a complete offering of topsides, BOPs and risers. It will have presence on over ~40% of the global fleet of floaters. In addition, the company is expanding into onshore drilling and to non-oil/renewables with its offering of pile top drilling rigs used for construction and for onshore- and subsea mining.