The corporation announced this on its website.
"Baker Hughes has signed an agreement to sell its oilfield services business in Russia to local management," the statement said.
It is specified that the new business will operate independently of Baker Hughes, including under an independent brand.
The deal is expected to close in the second half of this year.
Earlier FBA "Economy Today" wrote that the candidate of economic sciences Yevgeny Ivanov spoke about the departure of a number of Western companies from Russia.