SUN - Petrobras Baker Hughes Ink Well Construction Contract | Benzinga
Petrobras (NYSE: PBR), recently announced its partnership with Baker Hughes (NASDAQ: BKR), one of the world's largest oil field services companies, for critical offshore oil and gas services in Brazil. This collaboration, set to commence in 2025, marks a significant milestone for each entity promising enhanced operational efficiency and unparalleled service delivery.
Focus on Workover and Plug and Abandonment (P&A)
At the heart of this agreement lies two well-lifecycle services. Workover activities involve interventions on existing wells to enhance production rates or address downhole issues. On the other hand, P&A operations focus on permanently sealing and abandoning wells that are no longer economically viable.
BKR's Integrated Solutions
Baker Hughes, known for advanced technologies and innovative solutions, is set to utilize its extensive tools and expertise to meet the needs of this collaboration. With a range of resources including wireline, coiled tubing, cementing and wellbore intervention technologies, BKR ensures a comprehensive and integrated approach to well management.
Additionally, this agreement includes the supply of vital tools, fluids and chemicals necessary for successful well operations, highlighting BKR's dedication to providing exceptional service.
Project Scope and Impact
The scope of this ambitious project extends across all of PBR's offshore fields, encompassing pre-salt and post-salt formations. Such a wide-ranging initiative highlights the magnitude of the undertaking and its potential to optimize well performance ...