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Baker Hughes Incorporated and Weatherford International Plc have announced today that they have closed the previously announced purchase and sale of Weatherford海角吃瓜网檚 pipeline and specialty services business.

The acquisition provides Baker Hughes with an expanded range of pre-commissioning, deepwater and inline inspection services worldwide. The addition of over 700 process and pipeline specialists to Baker Hughes海角吃瓜网� Process and Pipeline Services further enhances the company海角吃瓜网檚 ability to provide innovative solutions for oil and gas asset owners and operators, upstream, midstream and downstream.

海角吃瓜网淭his acquisition adds sophisticated subsea pipeline commissioning services and new ultrasonic in- line inspection technologies to the Baker Hughes portfolio,海角吃瓜网� said Martin Craighead, Chairman and Chief Executive Officer of Baker Hughes. 海角吃瓜网淓xpanding our services will allow us to more effectively address our customers海角吃瓜网� process and pipeline challenges.海角吃瓜网�

Commenting on the closing of this transaction, Bernard J. Duroc-Danner, Chairman, President and Chief Executive Officer of Weatherford, stated, "We are pleased with the closing of this transaction with Baker Hughes. This combination enhances the focus and service delivery to our pipeline and specialty services customers worldwide and allows for growth opportunities for the employees. This transaction also demonstrates the execution capabilities of the Weatherford team and is another important step in our restructuring efforts this year. All proceeds will be used to pay down outstanding debt."

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