Baker Hughes will provide subsea production systems for Turkey's Sakarya Gas Field, enhancing operational efficiencies and deepwater production capabilities.
Quiver AI Summary
Baker Hughes has announced a significant contract with Turkish Petroleum (TPAO) and the Turkish Petroleum Offshore Technology Center (TP-OTC) to provide subsea production systems for the Sakarya Gas Field Phase 3, enhancing offshore production capabilities. Under this agreement, Baker Hughes will supply deepwater horizontal tree systems and incorporate advanced completion technologies to optimize operations at depths ranging from 6,500 to 7,200 feet. The collaboration aims to improve operational efficiencies and multizonal control of subsurface operations, contributing to the development of Turkey's energy sector. Deliveries for this phase are expected to begin in late 2025, following Baker Hughes' prior work with TPAO and TP-OTC that started in 2022 to assess the unique geological characteristics of the field.
Potential Positives
- Baker Hughes secured a significant award from Turkish Petroleum for the supply of subsea production and intelligent completion systems in the strategic Sakarya Gas Field Phase 3.
- The integrated approach with TPAO and TP-OTC will enhance operating efficiencies, showcasing Baker Hughes' capability in advancing energy technology.
- The company will provide advanced technology solutions, including deepwater horizontal tree systems and multizonal control systems, which are critical for efficient hydrocarbon extraction.
- Baker Hughes has a history of collaboration on the Sakarya Gas Field, indicating strong partnerships that may lead to further opportunities in the region.
Potential Negatives
- None
FAQ
What is the significance of Baker Hughes' award in the Sakarya Gas Field?
Baker Hughes' award is crucial for enhancing production capabilities and operational efficiencies in Turkey's Sakarya Gas Field Phase 3.
What technologies will Baker Hughes provide for the Sakarya Gas Field?
Baker Hughes will supply deepwater horizontal tree systems, subsea structures, and advanced completion technologies for the field.
How deep are the production operations in the Sakarya Gas Field?
The production operations in the Sakarya Gas Field will take place at depths ranging from 6,500 to 7,200 feet.
When will the deliveries for Phase 3 of the Sakarya Gas Field begin?
Deliveries and execution for Sakarya Gas Field Phase 3 are scheduled to begin in late 2025.
Who partnered with Baker Hughes on the Sakarya Gas Field project?
Baker Hughes collaborated with Turkish Petroleum (TPAO) and the Turkish Petroleum Offshore Technology Center (TP-OTC) on this project.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$BKR Congressional Stock Trading
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$BKR Insider Trading Activity
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- LORENZO SIMONELLI (Chairman, President and CEO) sold 526,568 shares for an estimated $23,390,150
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$BKR Analyst Ratings
Wall Street analysts have issued reports on $BKR in the last several months. We have seen 12 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
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- Melius Research issued a "Buy" rating on 08/20/2025
- Evercore ISI Group issued a "Outperform" rating on 07/30/2025
- BMO Capital issued a "Outperform" rating on 07/30/2025
- Morgan Stanley issued a "Overweight" rating on 07/29/2025
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$BKR Price Targets
Multiple analysts have issued price targets for $BKR recently. We have seen 13 analysts offer price targets for $BKR in the last 6 months, with a median target of $52.0.
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- James West from Melius Research set a target price of $60.0 on 08/20/2025
- James West from Evercore ISI Group set a target price of $55.0 on 07/30/2025
- Phillip Jungwirth from BMO Capital set a target price of $53.0 on 07/30/2025
- Josh Silverstein from UBS set a target price of $46.0 on 07/30/2025
- Connor Lynagh from Morgan Stanley set a target price of $55.0 on 07/29/2025
- David Anderson from Barclays set a target price of $53.0 on 07/24/2025
- Charles Minervino from Susquehanna set a target price of $52.0 on 07/24/2025
Full Release
- Technologies will optimize offshore production in the Sakarya Gas Field
- Baker Hughes to deliver deepwater horizontal tree systems with associated technology
-
Integrated approach will enhance operating efficiencies
HOUSTON and LONDON, Sept. 11, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Thursday a significant award from Turkish Petroleum (TPAO) and Turkish Petroleum Offshore Technology Center (TP-OTC) to supply subsea production and intelligent completion systems in the country’s strategic Sakarya Gas Field Phase 3.
Through the agreement, Baker Hughes will provide deepwater horizontal tree systems with associated subsea structures and control systems to support production at depths from 6,500 to 7,200 feet. The company’s advanced, intelligent upper and lower completions systems will provide enhanced, multizonal control of subsurface operations.
“The development of the Sakarya gas fields has transformed Turkiye’s energy sector, leading to a more prosperous, secure future for the country,” said Amerino Gatti, executive vice president of Oilfield Services & Equipment at Baker Hughes. “By bringing to bear our unique combination of subsea and completions technologies alongside our operational expertise and subsurface insights, Baker Hughes, TPAO and TP-OTC are able to collaboratively unlock these crucial hydrocarbons that will power Turkiye for decades to come.”
Baker Hughes has collaborated with TPAO and TP-OTC in the Sakarya Gas Field since development began in 2022. The company’s GaffneyCline TM energy advisory team has worked closely with TPAO and TP-OTC on reservoir and technology evaluations for the field’s unique subsurface geology. Baker Hughes has also provided advanced lower completions solutions ideally suited to optimize production in thin-layered reservoirs like those found in the Black Sea.
During Phase 3, Baker Hughes’ completions technologies, including InForce TM HCM TM -A interval control valves , SureTREAT TM chemical injection valves, SureSENS TM QPT ELITE gauges , REACH TM subsurface safety valves and SC-XP TM Select Zero Loss stack-pack system , will be integrated with subsea production systems to create new engineering and operational efficiencies.
Deliveries and execution supporting Sakarya Gas Field Phase 3 will begin in late 2025.
About Baker Hughes
Baker 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
+1 363-315-6663
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Investor Relations
Chase Mulvehill
+1 346-297-2561
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