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Saudi Aramco and Baker Hughes Introduce Innovative Cable-Deployed ESP System

HOUSTON--(BUSINESS WIRE)--Saudi Aramco and Baker Hughes (NYSE:BHI) announced today the first installation of the TransCoil™ rigless-deployed electrical submersible pumping (ESP) system, which is designed to help operators bring wells on production faster and lower the costs associated with installing and replacing ESPs. Because they can eliminate the need for a rig in fields where rig availability is a concern or where high intervention costs can limit artificial lift options, operators can minimize deferred production and lower their overall lifting costs to extend the economic life of their assets.