Topic: Intervention

Baker Hughes to bolster oilfield services with AccessESP acquisition

Region: All
Content Types: Report
Date: Aug, 2022

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Baker Hughes has announced that it is acquiring AccessESP, a leading provider of advanced technology for artificial lift solutions, to further transform core oil and gas operations by reducing costs and downtime for operators.

AccessESP’s ‘GoRigless ESP System’ provides proprietary solutions that enable an electrical submersible pump (ESP) to be deployed and retrieved with conventional, light-duty intervention equipment without the need for a rig or requiring the well production tubing to be pulled.

These technologies significantly reduce the cost of, and downtime between, workovers used in the replacement of ESPs, which is of increasing importance in offshore and remote areas.

Maria Claudia Borras, Executive Vice President of Oilfield Services at Baker Hughes, commented, “Combining AccessESP’s alternative deployment technology with Baker Hughes’ world-class ESP capabilities creates a truly differentiated solution for our customers. This transaction reinforces Baker Hughes’ commitment to transforming our core business by focusing on leading, future-proof technologies that support growth opportunities and enhance our portfolio.”

AccessESP’s innovative deployment system provides more efficient solutions compared with traditional methods. By reducing heavy intervention, operators can increase oil recovery, efficiency and profitability while reducing costs and managing resources more efficiently. Lightweight intervention systems also reduce HSE risks, while light workover techniques enable ESP maintenance to be completed more quickly and at a lower cost than existing methods.

AccessESP has approximately 55 employees with facilities in North America and the Middle East. The transaction is expected to close in the second half of 2022 and will be integrated into Baker Hughes’ Oilfield Services segment.