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Baker Hughes Awarded Long-Term Service Agreement by bp for Tangguh LNG Operations, Supporting Indonesia's Energy Future

1. BKR secured a 90-month service agreement with bp for Tangguh LNG. 2. Agreement covers critical turbomachinery parts and services for reliable LNG production. 3. BKR aims to enhance safety and performance in the Asia-Pacific energy sector. 4. Partnership with bp reinforces BKR's long-standing relationship and market position. 5. Local collaboration shows commitment to regional energy expansion and transition.

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Why Bullish?

The long-term contract with bp signifies revenue stability and growth potential for BKR. Historical trends show that such agreements often lead to positive stock performance, reflecting investor confidence in future earnings.

How important is it?

The agreement is significant for BKR's operations in LNG, impacting future revenues positively. Its long-term nature and strategic partnerships enhance its relevance and importance in the energy market.

Why Long Term?

The 90-month duration indicates sustained cash flow and operational stability. Similar past agreements in energy sectors typically yield prolonged benefits for companies like BKR.

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Ninety-month agreement covers critical parts, services and technical support for turbomachinery equipmentAgreement underscores Baker Hughes' commitment to supporting safe and reliable LNG production in Asia-Pacific region HOUSTON and LONDON, Aug. 26, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Tuesday a long-term service agreement award from bp for its Tangguh Liquefied Natural Gas (LNG) plant in Papua Barat, Indonesia. This comprehensive 90-month agreement covers spare parts, repair services, and field service engineering support for critical turbomachinery at the facility including heavy-duty gas turbines, steam turbines, and compressors for three LNG trains, helping to ensure its continued reliable operation. The agreement underscores Baker Hughes' role as a solutions provider. The agreement builds on Baker Hughes' long-standing relationship with bp at the Tangguh LNG project since 2009, and most recently an award in 2024 to supply additional critical power and compression systems for bp’s Tangguh UCC Project. The Tangguh LNG facility is a cornerstone of Indonesia's energy strategy, playing a vital role in supplying safe and reliable energy to the Asia-Pacific region. Baker Hughes' continued support will contribute to the sustained performance and availability of the plant's critical turbomachinery, which is essential for LNG operation. "This long-term service agreement with bp for Tangguh LNG is a testament to our continued partnership and commitment to progressing energy development in Indonesia," said Tiffany Pitts, vice president of Gas Technology Services at Baker Hughes. "Our advanced technology and expertise will help ensure the optimal performance of the Tangguh facility, which is crucial for meeting the region's energy demands." Baker Hughes is collaborating with PT Imeco Inter Sarana as its local consortium partner to deliver on the local content requirements of the agreement. This agreement demonstrates Baker Hughes' strategic focus on supporting its footprint in LNG with critical equipment asset management services and follows the recent announcement to expand its existing service capability in Asia Pacific to address the region’s energy expansion and transition needs. About Baker HughesBaker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com. For more information, please contact: Media RelationsSarah Rowson+44 7787 527372sarah.rowson@bakerhughes.com Media Relations – Asia Pacific Adeline Teo+65 8380 4045Adeline.Teo@bakerhughes.com Investor RelationsChase Mulvehill+1 346-297-2561investor.relations@bakerhughes.com

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