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Baker Hughes Secures BP Contract to Boost Production in UK North Sea

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Baker Hughes (BKR) has secured a contract from BP (BP) to provide offshore stimulation services across the energy major's UK North Sea operations, the US oilfield services company said on Friday.

The contract will support the development of new wells as well as production enhancement and recovery from mature fields, Baker Hughes said.

Under the agreement, the oilfield services firm will deploy a vessel-based stimulation system using its StimFORCE modular package for well completion and production enhancement activities.

Baker Hughes said that the vessel-based setup is designed to give bp greater flexibility in scheduling offshore stimulation activities while reducing nonproductive time and improving operational reliability.

"By combining our vessel-based stimulation expertise, advanced intervention technologies and production optimization capabilities, we are well positioned to help bp enhance reservoir performance," said Amerino Gatti, Baker Hughes' executive vice president of Oilfield Services & Equipment.

Baker Hughes did not disclose the financial value or duration of the contract.

Price: $62.98, Change: $-0.66, Percent Change: -1.04%

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