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Baker Hughes to Provide Fully Integrated Completions for Petrobras' Offshore Fields

1. Baker Hughes secures a multi-year contract with Petrobras for completions systems. 2. New technologies enhance production optimization across deepwater oil fields. 3. Remote operations and multizone control improve operational reliability. 4. Partnership demonstrates Baker Hughes' ongoing commitment to Brazilian energy sector. 5. Delivery of technologies is scheduled to start in late 2025.

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Why Bullish?

This contract indicates a strong demand for BKR's technologies, potentially boosting future revenues. Historical similar contracts have resulted in significant stock price increases.

How important is it?

The announcement of this contract is significant for BKR's growth strategy in Latin America, impacting overall market sentiment positively. BKR's historical performance in securing similar contracts supports stronger future growth.

Why Long Term?

The benefits from this multi-year contract are expected to unfold over several years, enhancing BKR's market position in Brazil's energy sector. Previous long-term contracts have historically led to sustained revenue growth.

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New solutions will support remote operations in deepwater fieldsTechnology allows real-time response to evolving well conditions across multiple zones HOUSTON and LONDON, March 20, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Thursday a major, multi-year fully integrated completions systems contract with Petrobras. The award followed an open tender and will leverage Baker Hughes’ innovative completions technology portfolio and extensive experience in Brazil to optimize production across multiple deepwater fields. A range of technologies from Baker Hughes has been specifically tailored to meet the needs of Petrobras’ offshore developments. The intelligent completions technologies, combined with conventional upper and lower completions solutions, will provide remote operations capabilities and multizone control, limiting water and gas breakthroughs and reducing the risk of any costly interventions. “Deepwater, high pressure wells require an unmatched level of reliability, and our completion technologies have proven themselves in these harsh environments,” said Amerino Gatti, executive vice president, Oilfield Services & Equipment at Baker Hughes. “Through continual innovation, improvement and testing, and in close collaboration with Petrobras, the Baker Hughes team has pioneered new ways to help develop Brazil’s natural resources safely and efficiently for decades to come.” Through this agreement, Petrobras will utilize Baker Hughes’ new SureCONTROL Premium interval control valve (ICV), which provides enhanced reliability in the high flowrates of Petrobras’ offshore fields. This technology was developed to meet Petrobras’ industry-leading standards and allows operators to respond remotely to evolving well conditions across multiple zones in real time. Petrobras will deploy a number of additional Baker Hughes completions technologies, including SureSENS QPT ELITE downhole gauges, SureSENS B-Annulus monitoring system, SureTREAT chemical injection system, Sur-Set flow control system, Orbit Premium barrier valves, a gas lift system, REACH subsurface safety valves, DeepShield subsurface safety valves, Premier packers, screens and gravel pack system. Baker Hughes has played a key role in the development of Brazil’s offshore oil and gas fields for decades, and the company’s localization strategy contributes to the nation’s economy while strengthening its energy supply chain. Delivery will begin in late 2025. 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 Relations Brian Reynolds+1 346-315-6663brian.reynolds@bakerhughes.com Investor Relations Chase Mulvehill+1-346-297-2561investor.relations@bakerhughes.com

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