Baker Hughes Awarded Contract by Woodside Energy Ltd. in Australia

Services to be carried out on Pluto development

HOUSTON, TX – October 12, 2010 – Baker Hughes (NYSE: BHI) announced today that BJ Services, a Baker Hughes company, was awarded a USD multimillion contract by Woodside to provide casing and tubing running services in Australia. Work associated with the three-year contract began in May 2010 on various wells in Woodside’s operations offshore northwestern Australia. Baker Hughes will support operations from its bases in Perth, Australia, and in Singapore.

To carry out the contract, Baker Hughes will use a comprehensive suite of casing and tubular handling equipment, including flush-mounted spiders and the fill and circulate tool. Diamond Offshore’s semisubmersible rig Ocean America has been fitted with the BJ Services Derrickman™ system, which includes a remotely operated mechanical arm that makes it possible to maneuver tubulars and drillpipe into a vertical position without the need for a crew member to act as a traditional stabber.

“Having supplied similar services to Woodside for assets in the Murzuq Basin in Libya, it is extremely satisfying to have the opportunity to work for them in Australia,” says Kenny Watt, Baker Hughes’ vice president of tubular and completion assembly services. “We look forward to providing outstanding service in a timely and economical manner.”

# # #

About Baker Hughes
Baker Hughes provides reservoir consulting, drilling, pressure pumping, formation evaluation, completion and production products and services to the worldwide oil and gas industry.

CONTACTS:

Media Relations:
Kathy Shirley, +1.713.439.8135, kathy.shirley@bakerhughes.com
Investor Relations:
Gary R. Flaharty, +1.713.439.8039, gflaharty@bakerhughes.com