Baker Hughes (BKR) Extends Two Contracts with Equinor (EQNR) for Offshore Services

Baker Hughes Co. (BKR) has secured two multi-year contract extensions with Equinor ASA (EQNR) for integrated drilling and well services in the Norwegian Continental Shelf, the company said on May 28, 2026. The agreements extend collaboration on existing fields, reinforcing Baker Hughes’ footprint in the North Sea through at least 2030. The first extension covers drilling and completion services across several assets, including the Johan Sverdrup and Troll fields. The second focuses on subsea well intervention and production solutions. Financial terms were not disclosed, but the deals are expected to generate over $500 million in combined backlog, according to a company statement. Baker Hughes stated the extended contracts will utilize its latest digital solutions and low-emission technology to support Equinor’s net-zero targets. The awards follow similar recent service renewals, highlighting steady demand for offshore energy services and deepening ties between the two firms.