Page 55 - Baker Hughes REPORT - FEBRUARY 2024
P. 55

2/13/24, 3:02 PM                    Dussur, Baker Hughes Inaugurate Petrolite Chemicals Facility in Saudi Arabia
        Saudi  Minister  of  Energy  Prince  Abdulaziz  bin  Salman,  Minister  of
        Investment  Khalid  al-Falih,  and  Minister  of  Industry  and  Mineral

        Resources Bandar Alkhorayef attended the inauguration.



        Baker Hughes signed the joint venture with Dussur, which is owned by
        the  Public  Investment  Fund  (PIF),  Saudi  Aramco,  and  Saudi  Basic

        Industries Corporation (SABIC).





        The  joint  venture  was  announced  a  year  ago,  and  the  Texas-based
        oilfield services holds a 51 percent stake in the project.



        The facility will be known as the Saudi Petrolite Chemicals facility. It

        will  increase  Saudi Arabia’s  supply  base  targets  of  raw  materials  like
        solvents and glycols.



        It also aims to accelerate the development of manufacturing skills and

        capabilities of the local workforce with more than 70% Saudization.


        With faster delivery of fit-for-purpose chemical solutions, the facility is

        closer  to  customers  and  suppliers,  creating  efficiencies  across  the

        business.


        Dussur CEO Raed al-Rayes said the inauguration of the project comes

        within  Dussur’s  efforts  to  cooperate  with  its  partners  for  strategic

        localization to maximize the developmental and economic impact in the
        Kingdom.



        “At Dussur, we are proud and appreciative of today’s partnership with

        Baker  Hughes,  which  marks  a  significant  milestone. This  new  project
        will  provide  special,  distinguished  opportunities  for  the  sons  and

        daughters  of  our  nation  as  we  target  a  Saudization  rate  of  more  than

        70%,” said Rayes.


        Baker  Hughes  CEO  Lorenzo  Simonelli  said:  “Today  is  a  testament  to

        Baker Hughes and Dussur's continued efforts to drive in-country value to

        better serve the chemicals market in the Kingdom and across the region.
        Aligned to the Kingdom’s vision.”




      https://english.aawsat.com/business/4848991-dussur-baker-hughes-inaugurate-petrolite-chemicals-facility-saudi-arabia  2/3
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