Baker Hughes GE signs EGP 1 billion contract with Egypt’s Petrojet
US-based Baker Hughes, a GE subsidiary, has signed an EGP 1 billion contract with the Petroleum Projects and Technical Consultations Co (Petrojet) to expand the current joint industrial capabilities in the field of oil and gas.
The contract allows Petrojet to provide further industrial services for the oil and gas exploration in the North African nation, according to a statement on Wednesday.
Under the deal, the Egypt-based oil and gas services provider will be manufacturing, building and testing offshore structures and components of supergiant Zohr gas field’s production.
On the other hand, Baker Hughes will be responsible for boosting the value-added of Egyptian oil firms’ products, creating jobs, improving manufacturing standards in the Arab world’s most populous country in terms of quality, delivery time, and cost.
Moreover, the contract entails boosting Petrojet’s exports through foraying into fresh markets in the Middle East and Africa.