American energy technology company Baker Hughes (NASDAQ: BKR) has expanded its North Sea presence after securing two long-term contracts with Vår Energi.
Baker Hughes said a “transformative” nine-year contract will enhance well intervention capabilities for the Norwegian energy firm.
Additionally, Baker Hughes will supply all exploration logging solutions to further develop Vår prospects in the Norwegian Continental Shelf.
Meanwhile, a second contract will see Baker Hughes provide advanced subsea production capabilities in one of Vår Energi’s core focus areas, the Balder field.
Baker Hughes said it would deliver a “bespoke” vertical tree system selected for the complexities of Balder.
Spanning 15 years, the contract includes support for existing Balder legacy wells and any future developments in the Balder area.
Baker Hughes said the agreement is anchored by the company’s “distinct Norway delivery model”, a multimodal site in Dusavik, Stavanger.
Baker Hughes executive vice president Maria Claudia Borras said the company had an “extensive and successful history” of value creation for its clients in the North Sea.
“The two long-term contract awards from Vår Energi enable us to deploy our superior portfolio not only in well intervention, but also in exploration logging and subsea production,” Ms Claudia Borras said.
“Combining our technology, our exceptional regional expertise, and our dedication to a world-class customer experience ensures successful outcomes for both companies.”