BAUER AG Schrobenhausen - At the end of May, BAUER Deep Drilling GmbH, the deep drilling specialist subsidiary of BAUER Maschinen GmbH, entered into an engineering contract with Saxon Energy Services Inc. relating to the development and manufacture of deep onshore drilling rigs.
International drilling contractor Saxon Energy Services Inc. is a wholly owned subsidiary of Schlumberger, the world's leading provider of oilfield services. Saxon chose to enter into the engineering contract based on Bauer's history of innovative machinery manufacturing, its long-standing experience in the automation of unconventional drilling rigs and the flexibility of its development work.
Bauer and Saxon have been cooperating for some time, and that collaboration will now be intensified further. The engineering contract relates to the joint development of a deep drilling rig designated ATD 750. The rig, which will have a hook load of 375 tonnes, is designed for applications in the oil and gas sector. The design incorporates the highest standards of mobility, efficiency and automation. Start of production of the first rig is scheduled for 2015.
Professor Thomas Bauer, Chairman of the Management Board of BAUER AG, comments: "The cooperation with an established and renowned drilling contractor such as Saxon marks another major step forward for us in expanding our deep drilling operations. I am sure that the agreement will prove highly beneficial to both companies."
About Bauer
Bauer is a provider of services, machinery and products for ground and groundwater. The Group markets its products and services all over the world. Its global spread allows it to remain largely unaffected by fluctuating business cycles.
The operations of the Group are divided into three segments: Construction, Equipment and Resources. The Construction segment carries out specialist foundation engineering work for complex excavation pits and foundations on major infrastructure and building projects all over the world, installing cut-off walls and carrying out ground improvement works as well as providing related project development services. Bauer's Equipment segment, a world market leader, offers a comprehensive range of construction machinery, equipment and tools for the specialist foundation engineering sector as well as for other underground drilling operations, such as for mines, water wells, geothermal energy sources, and oil and gas extraction. The Resources segment pools the Group's activities in the fields of water, energy, mineral resources and environmental technology.
Bauer profits greatly from the collaboration between its three separate segments, enabling the Group to position itself as an innovative, highly specialized provider of complete solutions and services for demanding projects on the specialist foundation engineering and related markets.
Founded in 1790, Bauer today generates around three quarters of its total revenues outside of Germany. Employing some 10,300 people, the Group's total revenues in 2013 were approximately EUR 1.5 billion (previous year: EUR 1.44 billion). BAUER Aktiengesellschaft has been listed on the official market of the Frankfurt Stock Exchange since July 4, 2006 (Prime Standard, ISIN DE0005168108).
|
distributed by
|
