Baker Hughes (NASDAQ: BKR) saw its shares move forward Friday, on word the energy technology company has been awarded a major contract by Eni and its partner Petroci for the Baleine Phase 2 project in Ivory Coast, Africa’s first Scope 1 and 2 net-zero emissions development.
This award, which includes eight deep water trees, three Aptara™ manifolds, the relevant subsea production control system, and flexible risers and jumpers, strengthens Baker Hughes’ presence in West Africa and unlocks considerable growth potential in the country.
Baker Hughes will deliver a configured-to-order product portfolio across subsea production and flexible pipe systems, designed for optimum cost effectiveness, installation and life-of-field value. These deepwater trees and manifolds, supplemented with subsea production controls and flexible pipe systems, provide efficiency and cost-effectiveness under demanding conditions.
Their modular design aids in reducing lead times, vital for the economic feasibility of such projects. This contract reflects Baker Hughes’ value proposition of advanced technology, exceptional execution and value, holistic solutions and operational efficiency.
The company provides solutions to energy and industrial customers worldwide. “Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet,” company literature explains.
BKR shares 26 cents to $30.50.
