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General Electric enters Azerbaijan’s energy market

General Electric Company plans to soon acquire oil and gas assets of the US service companies Halliburton and Baker Hughes in Azerbaijan, a source on the oil and gas market of Azerbaijan told Trend.

After their merger, the companies decided to sell some of their equipment and services, including those in Azerbaijan, according to the source.

“The matter rests in both the drilling equipment and specific services such as cementing of wells and other drilling operations,” said the source. “The oil and gas unit of General Electric [GE Oil & Gas] is interested in the acquisition of these assets in Azerbaijan.”

The source did not specify the date when the deal will be announced officially.

The second and third largest global oilfield services giants, Halliburton and Baker Hughes, agreed to an asset swap in November 2014. The transaction worth $34.6 billion became the largest one in the oil and gas sector. Earlier, the European Commission suspended the consideration of the merger deal of the Halliburton and Baker Hughes US oilfield services companies due to the fact that they didn’t provide sufficient information.

GE Oil & Gas has more than 12,000 employees worldwide and provides services to customers in more than 100 countries of the world.



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