Baker Hughes Extends and Expands Integrated Well Construction Contract with Petrobras

• Expansion of well construction solutions utilizing advanced technologies to support oil & gas developments in pre-salt offshore fields
• Integrated solutions approach unlocks incremental value for complex operations

HOUSTON and LONDON, May 26, 2026 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Tuesday a major contract extension with Petrobras to provide integrated solutions for well construction across Brazil's Santos Basin.

Baker Hughes will expand the company's comprehensive well construction operations in several of the basin's oilfields. The company's advanced portfolio - including the AutoTrak rotary steerable system, cutting-edge logging-while-drilling tools, and Dynamus extended-life drill bits - will be deployed across the construction portfolio of deepwater wells, enabling efficient access to subsurface reservoirs and supporting the ongoing development of Brazil's pre-salt oil & gas resources.

This latest agreement builds on a well construction services award announced in early 2024, further extending the scope and impact of Baker Hughes' integrated drilling solutions in the region. The company's integrated approach unlocks incremental value for complex operations, enhancing efficiency and innovation in offshore developments.

"The success of this critical project illustrates the strength and capabilities of Baker Hughes' comprehensive portfolio, offering an integrated, solutions-focused approach," said Baker Hughes Executive Vice President of Oilfield Services & Equipment Amerino Gatti. "By combining innovative technology with a holistic view of project management, we are setting new standards for efficiency and safety in well construction."

The project will be executed through Baker Hughes' Integration & Solutions team alongside Petrobras' wells team, with the joint expertise enabling greater operational efficiency in Petrobras' offshore well construction operations. In addition to specialized drilling solutions, the team will leverage technologies and expertise across wireline, cementing, wellbore clean up, fishing, remedial tools, fluids, services and geosciences.

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
[phone]
[e-mail]

Investor Relations

Chase Mulvehill
[phone]
[e-mail]