Baker Hughes wins subsea contract for Eni-Petronas Indonesia project

M&A · Partnership
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Summary · why it matters

Baker Hughes has been awarded a contract to provide subsea production systems for the Kutei Northern Hub development offshore Indonesia, a joint venture between Eni and Petronas. The company will supply 17 deepwater horizontal tree systems, manifolds, connections, and control and distribution systems for the integrated development of the Geng North and Gehem fields. Baker Hughes will also deploy its Cordant asset protection and condition monitoring systems to help prevent unplanned downtime. The contract builds on a previous award for flash gas compressors for a new floating production, storage, and offloading vessel capable of processing more than 1 billion standard cubic feet of gas per day and 90,000 barrels of condensate per day, with a storage capacity of 1.4 million barrels. Financial terms of the new contract were not disclosed.

Impact on stocks 2

Energy Transition & Power Demand▲ · 1 stocks
Baker Hughes Co
BKR
▲ PositiveDemandrelevance

Awarded contract to supply subsea production systems for Kutei Northern Hub, a concrete order for its products.

Energy▲ · 1 stocks
Eni S.p.A.
ENI
▲ PositiveDemandrelevance

As joint venture partner, the project development benefits Eni, though the news focuses on Baker Hughes' contract.

Off-coverage companies 1

PetronasPrivate▲ Positive
Demandrelevance

As joint venture partner, the project development benefits Petronas, though the news focuses on Baker Hughes' contract.

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