Memorandum of Understanding | Condor Energy & Baker Hughes

In November 2017, Condor Energy and Baker Hughes – A GE company (BHGE) signed a Memorandum of Understanding (MoU) to govern a partnership established between the two companies that provides a multi-service solution specific to the Australian & New Zealand onshore and decommissioning markets.

The partnership capitalizes on Condor’s reputation for best-in-class service delivery and BHGE’s global technology portfolio – giving customers a viable onshore multi-service solution, matched with commercial models, focused on reducing total cost of lift by creating a more competitive landscape.

For Condor, the partnership enables the company to leverage BHGE’s global technology portfolio to enhance the delivery of more complete services and solutions to its customer base.  It also allows Condor to participate in end-to-end, multi-service project opportunities.

For BHGE, the partnership supports the company’s onshore strategy by opening up opportunities to deliver a fullstream solution for coal seam gas and other unconventional/conventional plays with minimal investment.

The onshore, unconventional market is valued at approximately AUD$450 million per annum for the next five years.  Through the partnership, Condor and BHGE can secure its market share by delivering flexible, responsive solutions that capitalise on the benefits of access to best-in-class technologies.

Together, Condor and BHGE will deliver technology solutions efficiently and with precision to support customers’ business imperatives for enhanced productivity and cost efficiency.

 

About Baker Hughes, a GE company

Baker Hughes, a GE company (NYSE: BHGE) is the world’s first and only fullstream provider of integrated oilfield products, services and digital solutions. We deploy minds and machines to enhance customer productivity, safety and environmental stewardship, while minimizing costs and risks at every step of the energy value chain. With operations in over 120 countries, we infuse over a century of experience with the spirit of a startup – inventing smarter ways to bring energy to the world. Visit us at BHGE.com.

 

About Condor Energy Services Limited

Condor Energy Services is Australia’s first and only independent provider of integrated fracture stimulation, coiled tubing and wireline services and solutions. With operations throughout Australia and New Zealand, Condor delivers value to our customers by providing responsive, flexible and bespoke solutions with world class people, technology and equipment. We are committed to guarding the health, safety and wellbeing of our people, protecting the environment and ensuring the quality of our services. Visit us at condorenergy.com.au

Contact: info@condorenergy.com.au