Baker Hughes wins key contract from Eni for work offshore West Africa
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Baker Hughes (NASDAQ:BKR) +1.2% in Friday's trading after saying it was awarded a "major" contract by Eni (E) and partner Petroci to provide subsea trees for the Baleine phase 2 project offshore Ivory Coast.
Baker Hughes (BKR) said the award includes eight deepwater trees, three manifolds, a subsea production control system, and flexible risers and jumpers.
Eni (E) has described the Baleine field as Ivory Coast's largest hydrocarbon discovery to date, with estimated oil in place of 2.5B barrels and 3.3T cf of associated gas.
The Baleine field is being tapped in three phases, the first due onstream this year and the second due in 2024, with a bigger third stage to follow.
The collaboration between the two companies 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," Baker Hughes said.
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