Baker Hughes : and Rosneft Announce Agreement to...

ST. PETERSBURG, Russia - June 4, 2021- Baker Hughes, an energy technology company, and Rosneft, a leader in the Russian oil and gas sector, have announced an agreement to cooperate on carbon management for Rosneft's operations in Russia. This agreement will support Rosneft's commitment to reduce upstream emission intensity by 30% by 2035 and strategically supports Baker Hughes' goals to help customers reduce their operational emissions.

Announced during the St. Petersburg International Economic Forum (SPIEF), the agreement will allow Baker Hughes to work with Rosneft to identify where Baker Hughes' deep global expertise and energy technologies can advance carbon management for Rosneft. The companies will determine a roadmap for pilot testing of Baker Hughes' advanced low carbon technologies throughout Rosneft's production chain of different sites. The roadmap aims to deliver low-carbon field design as well as exploration and production asset optimization.

The agreement will also focus on exploring projects to drive efficiency enhancement and reduce emissions throughout Rosneft's extraction, refining and transportation operations. The companies will assess the potential of applying technologies and applications for the detection, measurement, assessment and reduction of greenhouse gases, with a focus on methane emissions at Rosneft's production facilities.

The implementation of Baker Hughes' low carbon technologies for drilling, oilfield services, artificial intelligence digital solutions and energy efficiency applications is expected to contribute to Rosneft's overall energy efficiency improvements. The companies will also consider alternative energy sources, including hydrogen opportunities.

'We are delighted to expand our long-term relationship with Rosneft,' said Elena Akoltseva, president of the Russia and CIS region at Baker Hughes. 'We are optimistic about our cooperation with Rosneft and helping to advance the energy transition together. We believe that our collaboration supports both Rosneft and Baker Hughes' net-zero goals and will provide a significant contribution in driving down emissions.'

About Baker Hughes:

Baker Hughes is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations 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.

About Rosneft:

Rosneft Oil Company is the leader of the Russian oil sector. Rosneft is focused on exploration and appraisal of hydrocarbon fields, production of oil, gas and gas condensate, offshore field development projects, feedstock processing, sales of oil, gas and refined products in the territory of Russia and abroad.

Rosneft has been one of the first Russian members of UN Global Contract, the largest sustainable development initiative, for more than ten years. In 2018 the Company was the first to confirm its UN sustainable development goals commitment and specified 'climate change combat' as its objective, which will be met in the course of Rosneft main activities. Rosneft is the first Russian company, which presented a comprehensive Carbon Management Plan - 2035 with clear targets for greenhouse gases emission reduction.