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Baker Hughes wins major contract for subsea systems in Eni's Cronos gas project offshore Cyprus

Market News
28 Oct 2026, 14:00 WIB
GlobeNewsWire
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Bullish
Baker Hughes wins major contract for subsea systems in Eni's Cronos gas project offshore Cyprus

Baker Hughes secured a significant contract from Eni to supply subsea production systems and services for the deepwater Cronos gas development offshore Cyprus. The deal, booked in Q3 2026, aims to accelerate Eni's project timeline by using standardized, configurable subsea solutions to reduce complexity and risk. Initial equipment deliveries are expected in the first half of 2027, supporting Eni's goal to bring gas reserves into production quickly and safely. This contract strengthens the ongoing partnership between Baker Hughes and Eni in deepwater projects worldwide.

Baker Hughes Co (BKR) trades at USD 58.61 on Pluang as of Oct 28, 2026 18:12 WIB, down 0.66% in the last day. The stock's market cap stands at $58.57 billion with a dividend yield of 1.56%. Pluang investors show strong interest, with 100% buy orders and a typical hold time of 76 days.

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