Baker Hughes GE signed a contract with Belayim Petroleum Company (Petrobel) to conduct subsea services for the second phase of development at the Zohr natural gas field, Egypt Oil & Gas reports.
The contract is part of the Ministry of Petroleum and Natural Resources efforts to develop gas production from the Mediterranean Sea, according to the Minister of Petroleum and Mineral Resources, Tarek El Molla. He also noted the importance of boosting cooperation with international oil companies (IOCs), such as Baker Hughes GE, to achieve the ministry’s goals.
Baker Hughes GE was selected for the project due to the company’s use of the latest technologies and methods and its global leadership in the field of operational and engineering services for the development of offshore fields, the Chairman of Petrobel, Atef Hassane, said.
The contract was signed by Hassane; the Head of the Egyptian Natural Gas Holding Company (EGAS), Ossama El Bakly; GE’s Chief Executive Officer and President of Middle East, North Africa, and Turkey, Rami Qasem; and the Ministry of Petroleum’s First Undersecretary, Mohamed Mo’anes.
The CEO and Managing Director of Baker Hughes, Lorenzo Simonelli, and El Molla also attended the ceremony.
Simonelli noted that the agreement reinforces the company’s commitment to providing competitive offers for its regional partners.