Baker Hughes (NASDAQ: BKR) were relatively unchanged early Friday, as the energy technology company announced an award from Aramco to expand its integrated underbalanced coiled tubing drilling (UBCTD) operations across Saudi Arabia’s natural gas fields. The order was booked in the third quarter of 2025.
Under the multi-year agreement, Baker Hughes will expand its current UBCTD fleet from four to 10 units for re-entry and greenfield drilling projects across fields in the Kingdom. The company will provide integrated solutions to manage all aspects of the UBCTD operations, including coiled tubing drilling units, underbalanced drilling services, operational management, well construction, and geosciences to scale and accelerate their access to gas from new and established fields.
“This project is the result of nearly two decades of successful collaboration between Baker Hughes and Aramco, which have set the standard for UBCTD,” said Amerino Gatti, executive vice president of Oilfield Services & Equipment at Baker Hughes.
“By combining advanced technologies with a holistic, integrated approach, we can support Aramco to more efficiently access bypassed and hard-to-reach hydrocarbons and produce the resources that help the Kingdom thrive. This expansion sets the stage for further innovation in UBCTD, which has the potential to shape how oil and gas are produced around the world.”
BKR shares dipped 11 cents to $48.78.
