Geoinform Kft., a subsidiary of the Mol Group, has entered into a strategic cooperation agreement with the American company Baker Hughes, MOL announced.
As the announcement confirms, the company, a major service provider in the Hungarian hydrocarbon and geothermal industry, aims to increase its role in exploration and production in the Central and Eastern European region by introducing modern and innovative oil industry technologies.
The cooperation covers the introduction of new service activities, equipment maintenance and operation, leasing, technical support, technical consulting, and professional training programs,
they explained.
As the announcement claims, Baker Hughes provides technical and service support covering the entire energy chain, from research to production and data processing to interpretation, with a focus on solutions that emphasize energy efficiency and digitalization.
András Dianovszki, managing director of Geoinform Kft., emphasized in the announcement that the new level of cooperation will enable the company to offer faster and more efficient solutions, creating significant value for Hungarian and regional energy industry players.
The agreement was signed by the parties at the Baker Hughes annual conference in Florence.
According to publicly available data, Baker Hughes had net sales of HUF 849.708 million (cc. EUR 2 248 410; EUR 1 = HUF 378) in 2024, up from HUF 218.054 million in the previous year. Its after-tax profit for the same period increased to HUF 200.892 million from HUF 88.118 million.
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Via MTI; Featured image: MTI/Hegedüs Róbert
The post MOL Subsidiary Enters into Strategic Cooperation with American Company appeared first on Hungary Today.
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