Baker Hughes Secures Major ExxonMobil Contract for Guyana FPSOs

Core Insights - Baker Hughes Company (BKR) has secured a multi-year contract with Exxon Mobil Corporation (XOM) to provide specialty chemicals and related services for offshore developments in Guyana's Stabroek Block, specifically for the Uaru and Whiptail projects [1][2] Group 1: Contract Details - Under the contract, BKR will supply all necessary chemicals for the Errea Wittu and Jaguar floating production storage and offloading (FPSO) vessels, which are set to commence production in 2026 and 2027 respectively [2] - The Uaru and Whiptail projects are ExxonMobil Guyana's fifth and sixth developments in the Stabroek Block, with a combined capacity of 500,000 barrels per day, contributing to an expected overall production of approximately 1.3 million barrels per day for Guyana [3] Group 2: Strategic Positioning - BKR has an established presence in Guyana, having previously supplied turbomachinery and production chemicals for ExxonMobil's FPSO fleet, which strengthens its role as a key service provider in ExxonMobil's operations [4] - The contract reinforces BKR's strategic position in the offshore energy sector and indicates continued growth opportunities in Guyana, recognized as one of the world's fastest-emerging oil frontiers [6] Group 3: Industry Context - The Errea Wittu FPSO is being developed by Offshore Frontier Solutions, a joint venture between MODEC and Toyo Engineering Corporation, while SBM Offshore is overseeing the Jaguar FPSO's construction and installation, highlighting the importance of FPSO technology in deepwater oil production [5]