OFS Technologies, the company created after buying out the assets of Baker Hughes in Russia in 2022, is currently working to boost its inventory of wells to lay the foundations for Russia to increase its oil production
when needed, the firm’s chief executive officer David Gadzhimirzaev told Russia n news agency Interfax in an interview on Tuesday. Russia is actively working to raise the number of oil wells to be ready to boost production when the time and conditions are right, the executive told Interfax on the sidelines of an energy forum in Russia . Gadzhimirzaev leads OFS Technologies, which was created in 2022.
The agreement follows on Baker Hughes’s previously announced suspension of new investments for its Russia operations and commitment to comply with applicable laws and sanctions. Back then, Baker Hughes says that the new business will operate independently of Baker Hughes – including an independent brand – and it will assume all current OFS Russia assets, liabilities, and commercial obligations.
Oilfield Services Russia Sanctions
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