| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Baker Hughes (NASDAQ:BKR), an energy technology company, announced Wednesday a multi-year agreement with Petrobras to extend the deployment of the Blue Marlin and Blue Orca stimulation vessels, supporting optimization of offshore oil and gas production in Brazil's post and pre-salt fields. The award, which followed an open tender, also includes the provision of associated chemicals and services.
Blue Marlin and Blue Orca will deliver advanced chemical treatments to stimulate wells, maximizing production in both brownfield and greenfield developments across multiple basins. In addition, these vessels will support well construction through gravel pack and frac pack operations.
"Stimulation vessels are critical for optimizing production and limiting costly downtime in offshore fields," said Amerino Gatti, executive vice president, Oilfield Services & Equipment at Baker Hughes. "Blue Marlin and Blue Orca have long histories in Brazil, and the unmatched experience, expertise and capabilities of the vessels and their crews have helped Petrobras make the country's pre-salt fields among the most productive in the world. This latest award further reinforces our Mature Assets Solutions strategy, enabling us to extend life of field, enhance recovery, and deliver greater value for our customers."
The vessels combine highly trained crews with onboard laboratories, high-pressure pumping systems and robust chemical storage. These capabilities allow them to provide chemical treatments specifically engineered to the requirements of each well and perform multiple stimulation operations without returning to port to resupply. By providing on-demand support, the vessels can limit the nonproductive time of the offshore production assets they support.
This agreement extends Blue Marlin and Blue Orca's deployment with Petrobras, as the two vessels have operated in Brazil since 2008 and 2023, respectively. Earlier this year, Petrobras recognized the vessels for their health, safety and environment (HSE) performance, and as of Sept. 1, they have recorded more than 650 perfect health, safety and environment (HSE) days, highlighting Baker Hughes and Petrobras' commitment to operational excellence.
Baker Hughes has been deeply involved in the development of Brazil's offshore oil and gas industry and its localization strategy contributes to the nation's economy. The majority of the chemicals utilized by Blue Marlin and Blue Orca will be sourced in Brazil, strengthening the local energy supply chain.
Posted In: BKR
