Lorenzo Simonelli
Chairman's Letter to shareholders

"2020 was a year of strong performance in the face of a challenging environment."

Lorenzo Simonelli

主席,总统和首席执行官



亲爱的股东,

2020 was an incredibly challenging year for Baker Hughes and the entire global community. As the COVID-19 pandemic and oil price volatility unfolded in 2020, we moved quickly to mitigate the impact of these events through a series of financial, operational, and safety actions, guided by our strategy and core values. Overall, we maintained solid financial and operational performance while navigating a turbulent environment.

除了将业务转化为一个结构较宽松的组织之外,我们还加速了我们对引领能源转型的战略的执行。由于世界上对2020年加速了气候变化的关注,我们的专注于建立独特的能源科技公司 - 这是一个可以为多个行业提供脱碳解决方案的公司,并为新的低碳解决方案开发技术提供脱碳解决方案。

Our broad and diverse technological capabilities were never more necessary — or on display — than in 2020. Throughout the year, we positioned our portfolio to compete across the energy value chain and deliver innovative solutions for our customers. We remain optimistic about the long-term economics of the industry, and we are well positioned to evolve with the overall energy landscape.



2020亮点

Performance

20.7亿美元

在收入

518万美元

in free cash flow*

〜45%

of revenue is more industrial in nature



技术与创新

$595M

在研发中

3,066

patents awarded

73%

of drilling jobs completed remotely



Responsibility

AA

rating by MSCI

31%

reduction in CO2 emissions**

200

HSE perfect days



* Free cash flow is a non-GAAP measure. Please refer to the GAAP to non-GAAP measures table at the end of this document for a reconciliation

** 2019 full year performance versus 2012 baseline



我们的2020年表现

尽管大流行诱导的低迷挑战,但贝克休斯在经营和商业上交付。亚博竞彩App为期全年2020年,我们以518亿美元的自由现金流量*预订了64亿美元的TPS订单,并在我们的大量成本和重组方案上执行,主要是油田服务(OFS)。我们还能够在充满挑战的一年内为客户提供服务,其中一些重要的商业奖。

在ofs中,我们在30个国家常时将全球钻井服务的73%延时,而2019年的50%则为50%。偏远操作导致客户始终如一地提高了成果。在建立北美,北海和中国的成功钻探轨道记录后,我们将在2020年扩大了我们的能力,以提高世界各地客户的效率和降低成本。

在油田设备(OFE)中,尽管海上环境困难,但我们在年内获得了几个关键奖项。柔性管道系统(FPS)是其中最具弹性的产品系列,并赢得了中国高温海底灵活跳线和相关设备的合同。我们很高兴看到我们的境内FPS和非金属材料产品提供持续的牵引力。

在涡轮机械和过程解决方案(TPS)中,我们的团队尽管大流行和行业衰退逆转,但在2019年历史记录之后,我们的团队获得了另一个成功的一年。我们通过长期合作伙伴卡塔尔石油保护了一项主要的液化天然气(LNG)订购,为卡塔尔石油北野东(NFE)项目提供多个主要制冷剂压缩机和发电设备。作为Baker Hug亚博竞彩Apphes致力于支持客户在脱碳运营方面的一部分,预计NFE项目的最新压缩技术将减少〜5%与以前技术的排放。

TPS was also awarded a major contract by South Gas Company in Iraq for the design, manufacture, and construction of an integrated natural gas processing and production facility. The facility is expected to have a capacity of 200 million standard cubic feet of natural gas per day and utilize previously flared natural gas from the Nassiriya and Gharraf oil fields, reducing emissions by an estimated 6+ million tons of carbon dioxide annually.

In Digital Solutions (DS), we won a major three-year framework agreement with Petrobras for our Bently Nevada, Nexus Controls, and Panametrics product lines to enhance the customer’s operations through risk mitigation and performance improvements. We also won an important contract with Petrobras to provide a suite of digital solutions and services to optimize productivity, reduce operational and safety risks, and lower carbon emissions across Petrobras sites in Brazil. Petrobras will accelerate its digital transformation, adopting the latest Bently Nevada condition monitoring and protection platform, as well as remote monitoring and diagnostics capability. Given the challenging macro-environment in 2020, our goal throughout the year was to maintain a strong balance sheet and remain disciplined in our capital allocation, while advancing our strategy. Overall, we were successful in achieving our goals and believe we are well positioned going forward.

Baker Hughes Product Revenue

Our future

2020 was a year of strong performance in the face of a challenging environment. We continued to execute on our strategy by transforming our core businesses, investing for growth in strategic areas, and positioning the company for new frontiers as a leader in the energy transition.

我要感谢客户,员工和股东的支持和信任。最重要的是,我要感谢大家留住安全,并继续承诺我们的成功。我们一起携带能源。

Sincerely,

Lorenzo Simonelli Signature

Lorenzo Simonelli

主席,总统和首席执行官



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