Baker Hughes focuses on Chinese firms

Baker Hughes: Seeking new business in China

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By News Wires

 07 September 2011 16:42 GMT

Baker Hughes, the world No. 3 in oilfield services, sees the emergence of smaller Chinese oil and gas producers as an opportunity for the company and its rivals to win more business there, a report said.

Chief executive Chad Deaton said he had visited China three times in the past three or four months, with many companies looking at the potential development of the country's substantial oil and gas resources in shale rock, Reuters reported.

Emerging oil and gas producers represented the best chance for the big three oilfield services players, which also include Schlumberger and Halliburton, to expand their operations in China, he said.

Generally, Deaton saw a steady improvement in international demand leading to price increases next year as markets outside the already-strong North America region ramp…

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