Baker Hughes expands in Venezuela with gas and oil deals; shares rise
BKR•Baker Hughes signed deals to develop Venezuelan gas infrastructure and support future oil and gas projects. Its shares rose more than 3%.
1. Venezuela deals
Baker Hughes signed a deal with Venezuela’s state oil company PDVSA, engineering firm Lindsayca and Fulcrum LNG to develop natural gas infrastructure. The companies plan to develop infrastructure to process, transport and sell gas, and possibly export it.
2. Oil and gas support
Baker Hughes also struck a deal with New Stratus Energy to support development of future oil and gas projects. The company said the deals create a framework linking upstream resource development, midstream infrastructure, gas monetization and LNG commercialization. Its shares rose more than 3%.
