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Baker Hughes Secures Significant Gas Technology Order for Third Expansion Phase of Aramco's Jafurah Gas Field

1. Baker Hughes awarded contract for six gas compression trains in Saudi Arabia. 2. Order supports expansion of Jafurah gas field, a key project for Aramco. 3. Advanced technologies will enhance efficiency and reliability in gas production. 4. Baker Hughes' long-standing partnership with Aramco strengthens their market position.

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Why Bullish?

The contract demonstrates Baker Hughes' growth potential, similar to past expansions boosting stock value.

How important is it?

The contract's significance to Baker Hughes' operations and partnerships indicates solid growth opportunities.

Why Short Term?

Immediate revenue and growth anticipated from contract execution in coming quarters.

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ARAMCOTECHNR
Contract awarded by Tecnicas Reunidas for six gas compression trains and six propane compressors, including balance of plants and auxiliariesState-of-the-art technologies to support third expansion phase of the largest unconventional gas field in Saudi Arabia HOUSTON and LONDON, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Thursday it has been awarded an order by Tecnicas Reunidas for six gas compression trains and six propane compressors, for the third expansion phase of Aramco’s Jafurah gas field, located in the Kingdom of Saudi Arabia. The order was booked in the fourth quarter of 2024. Building on its broad experience in providing technology solutions for the entire natural gas value chain, Baker Hughes will supply state-of-the-art electric motor driven compression solutions, leveraging its recently expanded Damman Center in Dammam, Saudi Arabia. This order adds to Baker Hughes’ long-standing partnership with Aramco, which includes the supply of compression solutions for the Haradh and Hawiyah gas plants, first phase of the Jafurah gas plant and gas compression facilities, and more recently, equipment for the third phase of Saudi Arabia’s Master Gas System project. “Gas continues to serve as a vital source of reliable, abundant and lower-carbon energy,” said Ganesh Ramaswamy, executive vice president of Industrial & Energy Technology at Baker Hughes. “Our advanced gas compression technology will enable efficient and reliable production from the Jafurah field, further supporting Aramco’s vision and contributing to Saudi Arabia's energy development.” 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 RelationsChiara Toniato+39 3463823419chiara.toniato@bakerhughes.com Baker Hughes Investor RelationsChase Mulvehill+1 346-297-2564investor.relations@bakerhughes.com

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