Baker Hughes, Aker Solutions Receive Regulatory Approvals for Subsea Alliance

Norway-based Aker Solutions and US-headquartered Baker Hughes are moving forward with their plans to form an alliance to develop technology for production solutions designed to boost output and reduce costs, after receiving the necessary regulatory approvals.  

The two companies received the green light on Thursday. 

‘The alliance combines Aker Solutions' strengths in subsea production and processing systems with Baker Hughes' expertise in well completions and artificial-lift technology to deliver reliable, integrated in-well and subsea production solutions that will help mitigate risk, accelerate output and extend the life of subsea fields,’ reads a note released on Thursday.

According to the two companies, the alliance will bring to market fully integrated in-well and subsea production systems.  

Aker Solutions and Baker Hughes unveiled their agreement in April 2014.