Page 73 - Baker Hughes REPORT - FEBRUARY 2024

Dussur, Baker Hughes Inaugurate Petrolite

Chemicals Facility in Saudi Arabia

Baker Hughes announced on Sunday the inauguration of its joint venture

(JV) oilfield and industrial chemicals manufacturing plant in Jubail Industrial
City, eastern Saudi Arabia.

The new plant will cater to oilfield, power generation, and industrial chemicals
industries.

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

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