HOUSTON and SEOUL – June 29, 2021 – Baker Hughes, a global energy technology company, and Samsung Engineering Co. Ltd, one of the world’s leading engineering, procurement, construction and project management companies, have announced a collaboration with regards to low to zero-carbon projects utilizing carbon capture, utilization and storage (CCUS) and hydrogen technologies.
As part of the collaboration, Baker Hughes and Samsung Engineering will identify joint business development opportunities for energy and industrial customers to help reduce their emissions. Areas of opportunity for Baker Hughes technology to contribute include:
- Hydrogen: compression and NovaLT gas turbine technology as well as flexible pipes for transportation;
- Carbon capture, utilization and storage: reservoir studies, well construction services, flexible pipes, condition monitoring solutions, and certain auxiliary solutions such as carbon dioxide compression and liquefaction for key industrial assets.
Samsung Engineering plans to provide its engineering, procurement, and construction expertise for offering and deploying low carbon solutions for projects across refineries, petrochemical plants, and cutting-edge industrial and environmental facilities including water treatment and air pollution prevention applications. The two companies will initially focus on projects with key Korean customers domestically and abroad, as well as considering expansions to other customers or regions where there is opportunity to do so.
Duckkyu Moon, Senior Vice President and Head of Solution Business Division at Samsung Engineering, said, “We are excited to partner with a leading technology provider like Baker Hughes to deliver advanced technologies for CCUS and hydrogen to our customers. We are positioning ourselves as a green solution provider, and we will continue to invest in technology and develop new projects for pursuing carbon neutrality.”
Rod Christie, Executive Vice President of Turbomachinery & Process Solutions at Baker Hughes, said, “In order to meet the Paris Climate Accords by 2050, energy solutions that utilize hydrogen and CCUS to decarbonize operations are critical. Together with partners such as Samsung Engineering, Baker Hughes is committed to making low- to zero-carbon operations a reality for our customers. Our leading technologies and engineering capabilities will provide new opportunities for implementation as we advance these new energy frontiers.”
About Baker Hughes:
Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner, and more efficient for people and the planet. Visit us at bakerhughes.com.
About Samsung Engineering Co., Ltd.:
Samsung Engineering is one of the world’s leading engineering, procurement, construction and project management (EPC & PM) companies. With experience in over 40 countries, the company provides total project management solutions from planning and financing to construction, and commissioning. Samsung Engineering business area portfolio reaches from world’s largest and most complex hydrocarbon plants such as in oil refining, gas, and petrochemical to cutting-edge industrial facilities in areas that include semiconductor and display as well as environmental facilities, like water treatment and air pollution prevention facilities. For more information, please visit www.samsungengineering.com
