Baker Hughes Bags Major Subsea Contract In Ivory Coast

Baker Hughes BKR has secured a significant contract from Eni Spa E and its partner Petroci for the Baleine Phase 2 project in Ivory Coast, Africa's first Scope 1 and 2 net-zero emissions development. Financial terms not disclosed.

This award strengthens Baker Hughes' presence in West Africa and unlocks considerable growth potential in the country.

Baker Hughes will provide a configured-to-order product portfolio for subsea production and flexible pipe systems optimized for maximum cost-effectiveness, installation, and life-of-field value.

"This collaboration between Baker Hughes and Eni is Africa's first development project with clear Scope 1 and 2 carbon reduction goals and will deliver innovative technology that will enhance the energy security in Ivory Coast," commented Maria Claudia Borras, executive vice president Oilfield Services & Equipment at Baker Hughes.

Price Action: BKR shares are trading higher by 0.76% at $30.47 on the last check Friday.