WASHINGTON (dpa-AFX) - Baker Hughes (BKR) has secured a major multi-year contract from Genesis Energy to supply drag-reducing agents or DRAs for two key offshore pipelines-the Cameron Highway and Poseidon systems, supporting U.S. Gulf Coast oil transport.
Booked in the second quarter, the agreement includes chemical supply, management services, and the Leucipa automated production solution.
Under the deal, Baker Hughes will deploy its FLO line of DRAs to enhance the flow of light and heavy crude from offshore platforms to Texas and Louisiana storage and refining hubs. The technology will boost pipeline capacity, reduce operational friction, and improve crude handling flexibility.
Baker Hughes EVP Amerino Gatti emphasized the importance of tech-driven solutions to meet rising U.S. energy demand without major capital investment. The DRAs use proprietary formulations that work efficiently across various crude types and temperatures while preserving crude quality.
To support rising demand, Baker Hughes has increased its domestic chemical production capacity, reinforcing its role in enhancing offshore energy infrastructure.
BKR currently trades at $44.95, or 0.60% higher on the NasdaqGS.
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