April 22, 2014 / 11:16 AM / 3 years ago

Baker Hughes, Aker Solutions form subsea alliance

April 22 (Reuters) - Oil services firms Baker Hughes and Aker Solutions agreed on Tuesday to form an alliance to develop subsea production solutions to boost recovery rates at a lower cost in offshore fields.

"The non-incorporated alliance will combine Aker Solutions' strengths in subsea production and processing systems with Baker Hughes' expertise in well completions and artificial-lift technology," the two firms said in a joint statement. (Reporting by Balazs Koranyi, editing by Terje Solsvik)

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