Baker Hughes Expands Footprints In Norway With Two Major Contract Win
Portfolio Pulse from Lekha Gupta
Baker Hughes Co (NASDAQ:BKR) has won two major contracts from Vår Energi to expand its presence in Norway. The first contract is a nine-year term offering well intervention and exploration logging services. The second contract is a 15-year Future Agreement in the Balder field, including delivering a customized Balder field vertical tree system and supporting existing and future developments in the area.
September 29, 2023 | 2:01 pm
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POSITIVE IMPACT
Baker Hughes Co has secured two major contracts from Vår Energi, which will expand its operations in Norway. This could potentially increase the company's revenue and profitability in the long term.
The news of Baker Hughes Co winning two major contracts from Vår Energi is directly relevant to the company and its operations. These contracts could potentially increase the company's revenue and profitability in the long term, which could positively impact the company's stock price. However, the stock price is currently down by 1.19%, which could be due to other market factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100