Baker Hughes Company (BKR), a leading energy technology company, has been awarded a multi-year contract by Dubai Petroleum Establishment (“DPE”), acting on behalf of Dubai Supply Authority, to provide integrated coiled-tubing drilling services for the Margham Gas storage project. The contract strengthens Baker Hughes' involvement in Dubai’s energy transition while enhancing the region's energy security.

BKR Expands Role in Dubai’s Energy Infrastructure

The Margham Gas project plays a vital role in ensuring Dubai's energy stability by enabling a flexible transition between natural gas and solar power. Baker Hughes’ expertise in coiled-tubing drilling will enhance the project’s underground gas storage capabilities, drawing from the mature Margham field.

This latest contract follows a prior agreement for Baker Hughes to supply its Integrated Compressor Line units for gas storage, injection and export, further embedding the company’s technology in Dubai’s evolving energy landscape.

BKR’s CoilTrak Technology to Boost Reservoir Connectivity

Baker Hughes will deploy its advanced CoilTrak coiled-tubing bottomhole assembly system, which enhances reservoir connectivity by improving the efficiency of slim-hole multilateral drilling. This system enables operators to maximize the potential of underground gas storage through enhanced subsurface navigation.

Amerino Gatti, executive vice president of Oilfield Services & Equipment at Baker Hughes, emphasized the company’s expertise in coiled-tubing drilling and mature asset solutions. He noted that Baker Hughes' integrated approach leverages advanced technology and industry experience to support DPE in expanding and developing secure, reliable and low-carbon energy solutions.

With this contract, Baker Hughes solidifies its presence in Dubai’s energy sector, reinforcing its commitment to delivering innovative solutions that support both reliability and sustainability in the region’s power infrastructure.

Zacks Rank & Key Picks

Currently, Baker Hughes carries a Zacks Rank #3 (Hold).

Investors interested in the energy sector may look at some better-ranked stocks like Archrock Inc. AROC, NextDecade Corporation NEXT and W&T Offshore, Inc. WTI. While Archrock presently sports a Zacks Rank #1 (Strong Buy), NextDecade and W&T Offshore carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.

NextDecade is an emerging player in the LNG space with its Rio Grande LNG project in Texas. As demand for LNG continues to grow, the company’s strategic investments in infrastructure and planned liquefaction capacity provide strong upside potential. With the global LNG market expanding, NEXT is well-positioned to capitalize on the growing export demand from the United States.

W&T Offshore leverages its strong Gulf of Mexico assets, which offer low decline rates and significant untapped reserves. The company recently expanded its portfolio with six shallow-water field acquisitions, adding substantial proven and probable reserves. Focused on high-return organic projects, WTI has maintained positive cash flows for 27 consecutive quarters.

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