Baker Hughes Unveils New Digital Solutions for More Intelligent Operations and Cleaner Energy

• New solutions expand on Baker Hughes' digital ecosystem, providing new levels of efficiency, performance and emissions reduction for oilfield, gas and industrial segments Leucipa™ automated field production solution will enable proactive oil and gas production managementCordant™ will offer an integrated suite of asset performance management and process optimization solutions for energy and industrial customers
• Investment and collaboration with Corva will provide intelligent rig visualization and drilling operations

FLORENCE, Italy, Jan. 30, 2023 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced at its Annual Meeting in Florence, Italy, the introduction of multiple new digital solutions and investments to advance more intelligent and energy-efficient operations. The result of detailed research conducted with oil and gas, heavy industry and broader industrial customers and partners, the solutions focus on improving efficiency and performance while reducing emissions, helping to drive the long-term sustainability of customer operations.

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'Digital is redefining the limits of how the energy and industrial sectors can increase efficiency, operate predictably and ensure lower emissions in a sustainable manner,' said Lorenzo Simonelli, chairman and CEO of Baker Hughes. 'We have long recognized digital is a critical capability in taking energy forward and leading in the energy transition, and we are continuing to invest and innovate for our customers. Our latest solutions are a testament not only to the power of digital enablement but also to our ongoing commitment to driving more efficient, informed and sustainable operations for our customers and ourselves.'

Leucipa™ is a public and private cloud-based automated field production software solution designed to help oil and gas operators proactively manage production and reduce carbon emissions. Leucipa focuses first on the specific outcome an operator wants to achieve, harnessing and leveraging data to drive intelligent operations. A significant number of oil and gas production activities are still conducted manually, leading to inefficiencies, unnecessary costs and lost production. By automating production processes, Leucipa will eliminate much of that inefficiency, ensure more environmentally sound operations, and enable customers to help recover the millions of barrels that would have otherwise remained in the ground.

Pan American Energy Corp, a leading energy company in Argentina, has agreed to be the launch customer of Leucipa. Pan American's pioneering decision showcases the company's commitment not just to enhance production management but also to increase energy efficiency, positioning them at the forefront of the industry. Leucipa will be released to the global market by mid-2023. Cordant is an integrated suite of solutions supporting industrial asset performance management and process optimization.

Building on Baker Hughes' broad and established rotating equipment, critical sensors, valves, pumps, gears, and inspection service domain expertise, Cordant will combine existing digital offerings for hardware, software and services capabilities into one integrated and simplified user interface. Customers' digital assets, tools and insights will converge within Cordant and can easily integrate with existing Baker Hughes technologies as well as technologies from other equipment manufacturers.

Cordant is available today through a modular approach. Customers can deploy Cordant through a variety of models that best aligned to their preferences: a hardware and software bundle; software as a service; on-premise offerings; or as an outcome-based solution tied to specific performance indicators. Releases with further enhancements and connectivity are planned throughout 2023 and beyond. The Leucipa and Cordant solutions leverage and advance Baker Hughes' core capabilities of enhanced domain expertise, engineering and advanced services capabilities by offering customers a personalized experience through actionable insights gleaned by state of the art artificial intelligence (AI) engines.

Baker Hughes remains committed to delivering the best solutions for its customers and staying at the forefront of digital innovation. In addition, Baker Hughes announced today it is collaborating with Corva, which offers an open solution for well construction digital offerings to enhance rig visualization and decision making in the oil and gas industry. Corva's analytics and real-time data capabilities will improve well construction operations and reduce costs. Corva's open development platform allows innovation by the operator and/or service providers.

Baker Hughes is a minority investor in Corva, becoming an international reseller and introducing new applications to the Corva App Store for access to its oilfield expertise. The collaboration aims to create a digital accelerator for improved efficiency in rig operations. These three digital solutions are key components of Baker Hughes' mission as the digital partner of choice for energy and industrial customers. Together, these solutions help customers drill better, produce more, and experience more intelligent operations. They enable customers to make better, more informed decisions to better optimize their operations, reduce costs and increase production.

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About Baker Hughes:

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business 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.