Baker Hughes Awarded Significant Gas Technology Contract To Support Equinor's BM-C-33 Project In Brazil; No Financial Terms Disclosed
Portfolio Pulse from Happy Mohamed
Baker Hughes (NASDAQ:BKR) has been awarded a significant contract by MODEC to supply gas technology equipment for the BM-C-33 project in Brazil, developed by Equinor with partners Repsol Sinopec Brasil and Petrobras. This is the second combined cycle power generation FPSO project developed by Baker Hughes for MODEC and Equinor, following the award for the Bacalhau FPSO in 2020. The technology will contribute to reducing the project's carbon footprint.
July 05, 2023 | 12:19 pm
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Baker Hughes has secured a significant contract from MODEC for the BM-C-33 project in Brazil. This is the second such project with MODEC and Equinor, which will likely strengthen Baker Hughes' position in the market.
The contract award is a positive development for Baker Hughes as it not only strengthens its relationship with MODEC and Equinor but also showcases its commitment to reducing carbon emissions. This could enhance its reputation and potentially lead to more such contracts in the future, positively impacting its stock.
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