Baker Hughes gains JOA Oil & Gas interest

Baker Hughes Nederland Holdings has acquired a 40% stake in JOA Oil & Gas (JOA).

Offshore staff

DELFT, Netherlands -- Baker Hughes Nederland Holdings has acquired a 40% stake in JOA Oil & Gas (JOA). Under terms of the agreement, Baker Hughes will license, and have unlimited access to, JOA’s JewelSuite integrated reservoir modeling software. Baker Hughes will also fund a portion of the development to incorporate some of its in-house engineering applications around the wellbore and geomechanical technologies earlier acquired through GeoMechanics International (GMI).

“Using the JewelSuite software, our consulting teams, including Gaffney, Cline & Associates, RDS, Epic Consulting, and GMI, will be better able to provide the most effective integrated solutions for the most complex reservoirs and development options,” says Nathan Meehan, VP of reservoir technology for Baker Hughes. “We also anticipate an opportunity for the JewelSuite software to become the integration platform for our in-house technologies.”

10/05/2009

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