Baker Hughes Co (NASDAQ:BKR) disclosed winning two major contracts from Vår Energi to expand its presence in Norway.
In particular, the first contract is a nine-year term offering well intervention and exploration logging services for Vår Energi.
The second contract spans 15 years and signifies a long-term Future Agreement (FA) in one of Vår Energi’s core focus areas, the Balder field. It includes delivering a customized Balder field vertical tree system and supporting existing Balder legacy wells and any future developments in the Balder area.
“Baker Hughes has an extensive and successful history of creating value for customers in Norway and the North Sea. The two long-term contract awards from Vår Energi enable us to deploy our superior portfolio not only in well intervention, but also in exploration logging and subsea production. Combining our technology, our exceptional regional expertise, and our dedication to a world-class customer experience ensures successful outcomes for both companies,” stated Maria Claudia Borras, executive vice president, Oilfield Services & Equipment at Baker Hughes.
Also Read: Baker Hughes Inks New Supply Agreement, This Time For Driftwood LNG Project
Price Action: BKR shares are trading lower by 1.19% at $36.15 on the last check Friday.
