Baker Hughes Co (BKR US): Buy: Raising power capacity for record inbound

Research evidence excerpt

Baker Hughes Co (BKR US): Buy: Raising power capacity for record inbound

eline intervention services in the North Sea,

combining surface and downhole solutions with complementary technologies from service

partners to extend the life and performance of existing offshore wells. The extension

expands delivery of services centered on the PRIME Technology Platform, aimed at

production optimization and emissions reduction across the Norwegian continental shelf.

◆ Subsea production systems contract for Azule Energy’s Greater PAJ development.

Azule Energy awarded Baker a contract to supply subsea production systems for its

Greater PAJ development offshore Angola. The scope includes horizontal trees engineered

for ultra-deepwater conditions of up to 10kpsi and 10k feet, along with subsea control

modules, intervention workover control systems, and associated connection, distribution

and topside equipment. Delivery of the subsea trees is expected to begin in 2027.

◆ Multiple wireline awards from India’s Oil and Natural Gas Corporation (ONGC). Baker

For a list of global

secured multiple awards from ONGC (ONGC IN, not rated, CMP INR238.56) to provideexploration prospects, see

Global Oil & Gas Project wireline logging, perforation, and drill stem testing services across India’s offshore and

Tracker: US and international onshore fields. The scope covers deployment of up to 46 wireline units and seven drill stem

lease sales to rebound, 19 testing kits, featuring technologies such as Proxima advanced logging services, RCX

June 2026. MAGNA large area multi-probe sampling service, and DeepConnect reservoir-driven

perforating charges. Baker will support more than 30 shallow water exploratory and

development rigs across the Neelam Heera, Mumbai High North, Mumbai High South,