The energy technology company Baker Hughes and Russian energy corporation PJSC Lukoil have signed an agreement to deepen their global collaboration.
Announced during the St. Petersburg International Economic Forum (SPIEF), the agreement will leverage Baker Hughes’ diversified technologies combined with PJSC Lukoil’s production chain to increase efficiencies, reduce emissions, and raise productivity for the oil and gas industry and support the energy transition.
Lorenzo Simonelli, CEO of Baker Hughes, commented: “We look forward to building upon our long-term relationship with a forward-thinking partner, collaborating in strategic areas to help Lukoil achieve further success. I look forward to sharing our expertise and technologies together through an integrated approach essential to accelerate our journey towards net-zero emissions.”
The two companies will explore several key collaborations including an artificial lift technology partnership to test Baker Hughes’ electric submersible pumps (ESP) with PJSC Lukoil’s energy efficient Permanent Magnet Motors (PMM). The two companies will share technology expertise, joint training, and business opportunities, and aim to launch joint pilot projects in Egypt, Iraq, Russia, and the US within the next five years.
The collaboration will also focus on an integrated approach to Lukoil’s carbon reduction and energy efficiency initiatives. The companies will explore emissions mapping and abatement projects throughout the production chain at Lukoil overseas projects, encompassing reserves of more than 1.5 billion barrels of oil equivalent in 11 countries. Baker Hughes will provide consulting for deployment of leading technologies to detect and reduce emissions as well as enhance oil production efficiencies for flaring, combustion and additional applications. The first pilot is expected to be launched in Uzbekistan.
Lastly, the deal will produce Baker Hughes’ spoolable composite pipes in Russia, leveraging PJSC Lukoil’s polymer production to provide an efficient and lower carbon alternative to traditional steel pipes. The new flexible pipes could enhance operational efficiency and scale up emissions reduction successes for PJSC LUKOIL while supporting local manufacturing capabilities.
For more information visit: www.bakerhughes.com