In 2007, Saudi Aramco To Replace BP, ExxonMobil As Baker Hughes' Biggest Customer

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An executive at Baker Hughes said today the US oil service company expects Saudi Arabia's state oil company Saudi Aramco to become its largest customer in 2007, replacing both the UK's BP and Us giant ExxonMobil, which have historically vied for that role.

"I think what is significant this year as well, is we expect Saudi Aramco will probably become our No. 1 customer, replacing BP or ExxonMobil, who have traditionally held that role," Gary Flaharty, an investor relations executive with Baker Hughes, said in remarks at the UBS Global Oil and Gas Conference.

National oil companies like Saudi Aramco control well over half of the world's energy reserves, making them important customers for oil services companies to woo.

Baker Hughes larger rival Halliburton has moved its chief executive officer to Dubai and opened a corporate headquarters there in a effort to win more contracts in the Middle East and other regions in the Eastern Hemipshere.

EDIT

http://www.upstreamonline.com/live/article133983.ece