Page 93 - Baker Hughes REPORT - FEBRUARY 2024

2/14/24, 4:29 PM PRESSR: Baker Hughes, Dussur inaugurate Saudi Petrolite Chemicals’ facility in Jubail — TradingView News
AlKhorayef, Minister of Industry & Mineral Resources, Baker Hughes,

an energy technology company, and Dussur, owned by the Saudi

Arabian Public Investment Fund (PIF), Saudi Aramco and SABIC (Saudi

Basic Industries Corporation), formally inaugurated on Sunday the

previously announced joint venture (JV) chemicals manufacturing

facility focused on providing oilfield and industrial chemicals in The

Kingdom of Saudi Arabia (KSA). The facility will be known as the

Saudi Petrolite Chemicals facility.

The event commemorated the new facility which will increase KSA’s

supply base targets of raw materials like solvents and glycols, as

well as 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. The new facility also builds on Baker Hughes’

continued strategy to source and produce chemicals in proximity to

key demand hubs, as recently achieved with the Singapore chemicals

manufacturing facility in 2022.

“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, the inauguration of the Saudi Petrolite Chemicals

facility marks another milestone in the Kingdom’s remarkable

journey of economic and industrial growth. For Baker Hughes, I am

proud to be a part of this journey we started more than 85 years ago

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