Baker Hughes Technologies Win Hart's E&P Meritorious Engineering, OTC Spotlight Awards

Drill bits, completions, stimulation and waste management technologies recognized

HOUSTON, TEXAS - May 2, 2011 - Baker Hughes (NYSE: BHI) technologies will be recognized today during the annual Offshore Technology Conference (OTC) with four Hart's E&P Meritorious Engineering Awards (MEA) and two OTC Spotlight on Technology Awards. Hart's E&P acknowledges Baker Hughes as having outstanding new technologies in four of 12 MEA categories-more than any other oilfield service company. The OTC Spotlight Awards recognize revolutionary sand control and drill bit technologies.

The Kymera hybrid drill bit earned both the MEA in the drill bit category and an OTC Spotlight Award. This innovative drill bit combines the cutting superiority and continuous scraping of diamond bits and the rock-crushing strength of roller cones. It is field-proven in highly interbedded formations to provide smooth drilling and excellent tool-face control, delivering a high-quality wellbore in less time and at significant savings to operators.

The Equalizer CF Select inflow control technology with an MTV hydraulically activated device was awarded the MEA in the completions category. The advanced inflow control device (ICD) reduces fluid velocity and erosion effects with extremely low sensitivity to production fluid viscosity, which improves oil recovery when early water breakthrough occurs. The Equalizer CF Select ICD is equipped with the unique multitasking valve (MTV) that dramatically reduces installation time, lowers risk, and provides better well control during installation.

The OptiPort multizone fracturing system was recognized with the MEA award in the stimulation category. This game-changing completion technology combines the best aspects of ball drop completions with annular fracturing. The patent-pending OptiPort system reduces well completion costs by speeding the process of fracturing multiple zones. Other benefits of the system include the more cost-effective and efficient use of cement for zonal isolation, and a reduced need for fracturing fluids and associated chemicals.

Baker Hughes' Eco-Centre waste management facility in Peterhead, Scotland, was awarded the MEA for facilities. A complete waste management solution, the Eco-Centre provides the North Sea oil and gas industry with the highest level of environmentally compliant waste-processing services from the rigsite to final disposal.

In addition to the Kymera hybrid drill bit, the Baker Hughes GeoFORM conformable sand management system using Morphic technology was chosen for an OTC Spotlight Award. GeoFORM is a revolutionary new approach to sand control. Using shape memory polymer to conform to the borehole in an openhole environment, GeoFORM radically reduces complexity versus traditional gravel pack systems while improving efficiency, reducing rig time and mitigating risks associated with conventional techniques.

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

Media Relations:
Kathy Shirley
+1.713.439.8135
kathy.shirley@bakerhughes.com

Investor Relations:
Gary R. Flaharty
+1.713.439.8039
gflaharty@bakerhughes.com