KSA Business: Baker Hughes and Dussur to form chemicals JV in KSA – Gulf Digital News

KSA Business: Baker Hughes and Dussur to form chemicals JV in KSA – Gulf Digital News

Baker Hughes and Dussur, owned by the Saudi Arabian Public Investment Fund, Saudi Aramco and Sabic, have signed a joint venture (JV) deal focused on providing oilfield and industrial chemicals in the Kingdom of Saudi Arabia (KSA).

The JV supports Baker Hughes’ efforts to better serve the chemical market in the region and includes the company’s existing chemical blend plant in Dammam and manufacturing facility in Jubail.

The JV brings Baker Hughes closer to customers and suppliers, creating efficiencies including lower operating expenses and locally sourced raw materials.

Increasing supply base targets

As part of the JV, Baker Hughes’ manufacturing facility in Jubail will directly support chemicals focused on the needs of KSA while expanding localisation opportunities.

The JV includes increasing Saudi Arabia’s supply base targets of raw materials and accelerate the development of manufacturing skills and capabilities of the local workforce.

Baker Hughes will contribute its existing infrastructure, personnel, and contracts within KSA related to oilfield and industrial chemicals under the terms of the agreement. Baker Hughes will own 51% of the JV, and Dussur will own 49%.

Under Baker Hughes brand

Upon close, the JV will continue to operate under the Baker Hughes brand and Baker Hughes will exclusively participate in the KSA chemicals market through