- Agreement positions Baker Hughes as key technology collaborator in KOC’s innovation ecosystem
  - Tech focus will be on innovative, fit-for-purpose solutions, including digital and AI automation, to address KOC’s challenges and production priorities
  - Baker Hughes commits to dedicated research and development center in Kuwait to support evaluation of new solutions and deployment of tech at scale

Baker Hughes (NASDAQ: BKR), an energy technology company, announced Tuesday a multi-year contract with Kuwait Oil Company (KOC) to accelerate technology innovation in the country’s upstream energy sector.

The contract positions Baker Hughes as a key technology collaborator in the Ahmadi Innovation Valley (AIV), KOC’s flagship initiative aimed at establishing an in-country research and innovation hub to address its strategic oil and gas development priorities.

Through this collaboration, Baker Hughes and KOC will focus on developing and deploying scalable, fit-for-purpose technology solutions that optimize production and flow assurance, while addressing other priorities across KOC’s technology roadmap. The technologies will benefit from Baker Hughes’ portfolio of digital and artificial intelligence (AI) automation solutions that help operators increase recovery from existing wells, lower operating costs, reduce water production and minimize power consumption.

“Baker Hughes is committed to deeply understanding KOC’s development aspirations and providing the solutions needed to help achieve them,” said Baker Hughes Chairman and Chief Executive Officer Lorenzo Simonelli. “Working together, we aim to deliver tailored technology solutions at scale that improve production performance and efficiency, supporting KOC’s goals to maximize value from their assets.”

As part of the agreement, Baker Hughes will build a dedicated research and technology development center in the Ahmadi Innovation Valley to support continuous evaluation of new solutions, deliver technology solutions at scale and build local expertise.

Baker Hughes has been in Kuwait for more than four decades, providing innovative energy technology solutions for the country’s upstream sector and making in-country investments that benefit local communities.

About Baker Hughes

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet.

About Kuwait Oil Company

Kuwait Oil Company has the important and privileged responsibility of providing energy to the world. Since 1934, our mission has been to explore, develop and produce Kuwait’s hydrocarbon resources. However, our job doesn’t just stop there. At KOC, we believe we can produce Kuwait’s most important resource in a way that is both economically viable and environmentally sound.