Baker Hughes to supply up to 50 subsea trees for Petrobras' Brazil oil fields

[Baker Hughes office building in Houston, Texas, USA.]
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Baker Hughes (NASDAQ:BKR [https://seekingalpha.com/symbol/BKR]) said Monday it was awarded [https://seekingalpha.com/pr/20246786-baker-hughes-to-supply-subsea-tree-systems-and-associated-services-for-petrobras] a "significant" contract from Petrobras (PBR [https://seekingalpha.com/symbol/PBR]) to supply as many as 50 subsea tree systems and associated services to support offshore oil and gas production across multiple fields in Brazil, beginning in Q3; financial terms were not disclosed.

Baker Hughes (NASDAQ:BKR [https://seekingalpha.com/symbol/BKR]) said it will manufacture Petrobras' (PBR [https://seekingalpha.com/symbol/PBR]) pre-salt standard subsea trees, as well as subsea distribution units, in-line tees and vertical connection systems, to enable safe, reliable and efficient production on the seafloor.

The subsea systems will enhance recovery in established fields including Albacora, Jubarte and Barracuda-Caratinga, and will be deployed in more recent pre-salt developments, including the Mero and Buzios fields, to optimize production in new wells, the company said.

Baker Hughes (BKR [https://seekingalpha.com/symbol/BKR]) has been deeply involved in the development of Brazil's offshore oil and gas industry, and has worked frequently with Petrobras (PBR [https://seekingalpha.com/symbol/PBR]).

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