LONDON (dpa-AFX) - Friday, Baker Hughes Company (BKR), an energy-based company, announced that it has been awarded an agreement from BP p.l.c. (BP) to provide offshore stimulation services across UK North Sea Operations held by the company, which would support new well development and improved recovery from mature fields.
As per the agreement, the company will deploy a vessel-based stimulation with its StimFORCE modular stimulation package to support well completions and improve production.
With a UK base and local supply network, the solution aims to improve reliability, reduce downtime, and increase recovery. The vessel also offers flexibility, allowing stimulation work to be carried out efficiently.
In pre-market activity on the NYSE, the shares were trading 0.67 percent higher at $43.88, after closing Thursday's trading 0.80 percent down.
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