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November 4, 2020

Baker Hughes to buy technology company 3C to advance decarbonisation

Oilfield services firm Baker Hughes has announced that it is acquiring a technology development company Compact Carbon Capture (3C).

By Himaja Ganta

Oilfield services firm Baker Hughes has announced that it is acquiring a technology development company Compact Carbon Capture (3C).

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With the latest move, the oilfield services firm aims to provide ‘decarbonisation solutions’ for carbon-intensive industries, including oil and gas (O&G) operations.

Baker Hughes said that the agreement includes all intellectual property, personnel as well as commercial agreements.

Baker Hughes chairman and CEO Lorenzo Simonelli said: “The addition of 3C to our energy technology portfolio complements our strategy, technology and manufacturing strengths in the area of carbon capture.

“This agreement highlights our deliberate and disciplined approach to invest in the energy transition. We are positioning our portfolio for new energy frontiers, and we believe there will be strong growth potential of carbon capture for both industrial applications and oil and gas projects.”

3C technology is capable of addressing CO₂ capture from ‘different emission sources’, helping in the decarbonisation of operations.

This technology differs from ‘traditional carbon capture solvent-based solutions’ as it uses ‘rotating beds’ instead of ‘static columns’.

According to Baker Hughes, 3C’s rotating bed technology enhances the carbon capture process, resulting in a reduced footprint of about 75%.

3C CEO Torleif Madsen said: “As we focus on our long-term vision to develop the world’s leading carbon capture offerings, we will leverage Baker Hughes’ strong brand and technology position in the energy industry to further expand our solution by complementing it with world-class turbomachinery and process solutions and access to a global customer base.”

In September, Baker Hughes secured an order from Qatar Petroleum to supply multiple main refrigerant compressors (MRCs) for the North Field East (NFE) project.

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Determine the future strategies for IoT in Oil & Gas

he declining cost of IoT hardware makes digitalization an attractive option for energy companies. The oil and gas industry is becoming a more enthusiastic adopter of digital technology as it struggles to cope with several significant trends. These include fluctuating oil prices, expanding sources of supply, and increasing regulatory requirements.  GlobalData’s IoT in Oil & Gas Thematic Research report provides you with an in-depth lens into the impact of IoT on the industry. We highlight both the challenges and opportunities associated with the innovative technology now, and in the future. Our report also covers: 
  • Major players and companies 
  • Market size and growth forecasts 
  • Case studies  
  • Sector scorecard 
According to GlobalData forecasts, global Internet of Things (IoT) revenue in the energy sector will reach $59 billion by 2025, up from $34 billion in 2019. IoT use cases in the sector show how instrumental digitalization is to the O&G sector.   Ensure your company is proactive in adapting strategies and processes to help you remain competitive. Download the full report to get ahead of the competition.  
by GlobalData
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