Baker Hughes Expands Namibian Presence with Liquid Mud Plant, Cement Bulk and Multi-Modal Facilities

Rhea-AI Summary

Baker Hughes (NASDAQ: BKR) has opened new facilities in Walvis Bay, Namibia, including the country's largest liquid mud plant, a cement bulk facility, and an integrated multi-modal facility. The liquid mud plant can hold 15,000 barrels of drilling and completion fluids. Located at Walvis Bay Port, these facilities will support Namibia's offshore oil and gas operations and enhance local employment opportunities. The company has provided training to local workers, NAMCOR personnel, and Ministry of Mines and Energy staff to develop skilled workforce. Baker Hughes has been providing drilling services and subsea operations in Namibia since 2021.

Positive

• Expansion into Namibia's growing energy market with largest liquid mud plant in the country
• Strategic port location enhancing operational efficiency
• 15,000 barrel capacity for drilling and completion fluids
• Investment in local workforce development and training

Negative

• None.

Insights

Market Research Analyst

The expansion in Namibia marks a strategic positioning by Baker Hughes to capitalize on the region's emerging energy market following significant offshore discoveries in the Orange Basin. The 15,000-barrel capacity liquid mud plant represents substantial infrastructure investment that will generate recurring revenue streams through drilling fluid services and cement operations.

This facility gives Baker Hughes a competitive advantage in Namibia's nascent oil industry by establishing first-mover infrastructure. The Walvis Bay Port location optimizes logistics costs and delivery times - critical factors for offshore operations. The investment in local workforce development through training programs also helps secure government goodwill and future contracts.

While immediate revenue impact may be , this positions Baker Hughes to capture significant market share as Namibia's energy sector develops. The timing aligns with increasing offshore exploration activity in the region, suggesting strong growth potential in the medium to long term.

• New liquid mud plant is the largest in Namibia in terms of volume and capacity
• Walvis Bay Port location will enhance efficiencies for customers and support local employment

WALVIS BAY, Namibia, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Thursday the opening of its new liquid mud plant, cement bulk facility and integrated multi-modal facility to support Namibia’s burgeoning energy industry and increase localization opportunities.

The facilities, including Namibia’s largest liquid mud plant in terms of volume and capacity, will serve as a key infrastructure necessary to supply drilling and completions fluids and cement bulk handling critical to serve offshore oil and gas operations. The integrated multi-modal facility will also house advanced testing and maintenance equipment to support a variety of subsea operations. The Walvis Bay facilities represent a substantial investment in the country from Baker Hughes.

“Namibia is poised to become one of Africa’s leading energy suppliers, and these operations significantly enhance our ability to support their goals,” said Amerino Gatti, executive vice president of Oilfield Services & Equipment at Baker Hughes. “Our new facilities represent the latest milestone in the growth of Namibia’s domestic oil and gas industry, and we are pleased to help the country realize these vital resources while creating new opportunities for its people.”

The liquid mud plant has the capacity to hold 15,000 barrels of drilling and completion fluids, allowing Baker Hughes to cater to the unique needs of each customer. The facilities are located at Namibia’s Walvis Bay Port, providing a consistent, local source of materials close to the country’s offshore fields that enhance efficiencies for customers.

The facilities employ local workers who have received advanced training in oil and gas operations from Baker Hughes. The company has also provided training to personnel from the National Petroleum Corporation of Namibia (NAMCOR) and the country’s Ministry of Mines and Energy (MME) to help strengthen the nation’s pipeline of skilled workers.

Walvis Bay has become a hub for the Namibian energy industry since the discovery of substantial offshore oil reserves in the country’s Orange Basin. Since 2021, Baker Hughes has provided drilling services, subsea wellheads and tubular running services in the country.

About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

For more information, please contact:

Media Relations
Adrienne M. Lynch
+1 713-906-8407
adrienne.lynch@bakerhughes.com

Investor Relations
Chase Mulvehill
+1 346-297-2561
investor.relations@bakerhughes.com

FAQ

What new facilities did Baker Hughes (BKR) open in Namibia?

Baker Hughes opened a liquid mud plant (Namibia's largest), a cement bulk facility, and an integrated multi-modal facility at Walvis Bay Port.

What is the capacity of Baker Hughes' (BKR) new liquid mud plant in Namibia?

The liquid mud plant has a capacity to hold 15,000 barrels of drilling and completion fluids.

When did Baker Hughes (BKR) begin operations in Namibia?

Baker Hughes has been providing drilling services, subsea wellheads, and tubular running services in Namibia since 2021.

Where are Baker Hughes' (BKR) new Namibian facilities located?

The facilities are located at Namibia's Walvis Bay Port.