Baker Hughes: Major services contract




Baker Hughes (NYSE:BHGE) has won a major contract to provide a wide range of services to develop Papua New Guinea’s first offshore gas field.

The contract, worth several hundred million dollars, is seen as a new model to help producers adapt to a world of low oil prices and contrasts with the traditional model where a company awards various parts of field development to different providers.

BHGE rose 1.3% in AH trading.



Leave a Reply

Your email address will not be published. Required fields are marked *

I accept that my given data and my IP address is sent to a server in the USA only for the purpose of spam prevention through the Akismet program.More information on Akismet and GDPR.

This site uses Akismet to reduce spam. Learn how your comment data is processed.