Baker Hughes Lands Largest Integrated Compressor Line Order in Company’s History
Baker Hughes (NASDAQ: BKR) has secured its largest-ever order for Integrated Compressor Line (ICL) units from Dubai Petroleum Establishment (DPE), on behalf of Dubai Supply Authority (DUSUP). The order, booked in Q3 2024, includes 10 ICL units to be installed at the Margham Gas storage facility in Dubai, significantly increasing its capacity.
This project aims to enhance energy supply reliability and support local decarbonization efforts in the United Arab Emirates. The ICL technology will provide a high-reliability system with reduced emissions, strengthening Dubai's ability to switch between natural gas and solar power. This order follows the successful operation of three ICL units since 2020, demonstrating DPE's trust in Baker Hughes' technology.
The ICL units' zero seal leakages and minimal maintenance downtime have made them increasingly popular in the market, with recent awards for projects in Italy, Germany, Argentina, and the United States.
Baker Hughes (NASDAQ: BKR) ha ottenuto il suo ordine più grande di sempre per unità Integrated Compressor Line (ICL) da Dubai Petroleum Establishment (DPE), per conto di Dubai Supply Authority (DUSUP). L'ordine, prenotato nel terzo trimestre del 2024, include 10 unità ICL che saranno installate presso l'impianto di stoccaggio di gas di Margham a Dubai, aumentando significativamente la sua capacità.
Questo progetto mira a migliorare l'affidabilità dell'approvvigionamento energetico e supportare gli sforzi di decarbonizzazione locali negli Emirati Arabi Uniti. La tecnologia ICL fornirà un sistema ad alta affidabilità con emissioni ridotte, potenziando la capacità di Dubai di passare tra gas naturale e energia solare. Questo ordine segue il successo operativo di tre unità ICL dal 2020, dimostrando la fiducia di DPE nella tecnologia di Baker Hughes.
Le unità ICL, con zero perdite di tenuta e tempi di inattività per manutenzione minimi, stanno diventando sempre più popolari sul mercato, con recenti premi per progetti in Italia, Germania, Argentina e Stati Uniti.
Baker Hughes (NASDAQ: BKR) ha asegurado su pedido más grande de la historia para unidades Integrated Compressor Line (ICL) de Dubai Petroleum Establishment (DPE), en nombre de Dubai Supply Authority (DUSUP). El pedido, realizado en el tercer trimestre de 2024, incluye 10 unidades ICL que se instalarán en la instalación de almacenamiento de gas de Margham en Dubái, aumentando significativamente su capacidad.
Este proyecto tiene como objetivo mejorar la fiabilidad del suministro energético y apoyar los esfuerzos de descarbonización locales en los Emiratos Árabes Unidos. La tecnología ICL proporcionará un sistema de alta fiabilidad con emisiones reducidas, fortaleciendo la capacidad de Dubái para alternar entre gas natural y energía solar. Este pedido sigue al funcionamiento exitoso de tres unidades ICL desde 2020, demostrando la confianza de DPE en la tecnología de Baker Hughes.
Las unidades ICL, con cero fugas de sellado y un tiempo de inactividad mínimo para mantenimiento, se están volviendo cada vez más populares en el mercado, con premios recientes para proyectos en Italia, Alemania, Argentina y Estados Unidos.
Baker Hughes (NASDAQ: BKR)는 두바이 석유 공사(DPE)로부터 두바이 공급청(DUSUP)을 대신하여 지금까지의 최대 규모인 통합 압축기 라인(ICL) 장치 주문을 확보했습니다. 이번 주문은 2024년 3분기에 예약되었으며, 10개의 ICL 장치가 두바이의 마르감 가스 저장 시설에 설치되어 용량이 크게 증가하게 됩니다.
이 프로젝트는 에너지 공급의 신뢰성을 강화하고 지역의 탈탄소화 노력을 지원하는 것을 목표로 하고 있습니다. ICL 기술은 배출량이 줄어든 고신뢰성 시스템을 제공하여 두바이가 천연가스와 태양열 간에 전환할 수 있는 능력을 강화할 것입니다. 이 주문은 2020년부터 성공적으로 운영된 세 개의 ICL 장치에 따른 것으로, DPE가 Baker Hughes의 기술에 신뢰를 보낸 것을 증명합니다.
ICL 장치는 제로 접합 누수와 최소한의 유지보수 다운타임 덕분에 시장에서 점점 더 인기를 끌고 있으며, 최근 이탈리아, 독일, 아르헨티나, 미국의 프로젝트에 대한 수상 이력이 있습니다.
Baker Hughes (NASDAQ: BKR) a obtenu sa plus grande commande jamais enregistrée pour des unités Integrated Compressor Line (ICL) de Dubai Petroleum Establishment (DPE), pour le compte de Dubai Supply Authority (DUSUP). La commande, enregistrée au troisième trimestre 2024, comprend 10 unités ICL qui seront installées dans l'installation de stockage de gaz de Margham à Dubaï, augmentant considérablement sa capacité.
Ce projet vise à améliorer la fiabilité de l'approvisionnement en énergie et à soutenir les efforts de décarbonisation locaux aux Émirats Arabes Unis. La technologie ICL fournira un système à haute fiabilité avec des émissions réduites, renforçant la capacité de Dubaï à passer du gaz naturel à l'énergie solaire. Cette commande fait suite au fonctionnement réussi de trois unités ICL depuis 2020, démontrant la confiance de DPE dans la technologie de Baker Hughes.
Les unités ICL, avec zéro fuite de joint et un temps d'arrêt de maintenance minimal, deviennent de plus en plus populaires sur le marché, avec des récompenses récentes pour des projets en Italie, en Allemagne, en Argentine et aux États-Unis.
Baker Hughes (NASDAQ: BKR) hat seine größten Aufträge für Integrated Compressor Line (ICL) Einheiten von Dubai Petroleum Establishment (DPE) im Auftrag der Dubai Supply Authority (DUSUP) gesichert. Der Auftrag, der im dritten Quartal 2024 gebucht wurde, umfasst 10 ICL-Einheiten, die in der Gaslageranlage Margham in Dubai installiert werden, was die Kapazität erheblich erhöht.
Dieses Projekt zielt darauf ab, die Zuverlässigkeit der Energieversorgung zu verbessern und lokale Dekarbonisierungsbemühungen in den Vereinigten Arabischen Emiraten zu unterstützen. Die ICL-Technologie wird ein hochzuverlässiges System mit reduzierten Emissionen bieten und Dubais Fähigkeit stärken, zwischen Erdgas und Solarenergie zu wechseln. Dieser Auftrag folgt dem erfolgreichen Betrieb von drei ICL-Einheiten seit 2020, was das Vertrauen von DPE in die Technologie von Baker Hughes unter Beweis stellt.
Die ICL-Einheiten, die keine Dichtungsleckagen und minimale Wartungsstillstandszeiten aufweisen, erfreuen sich im Markt zunehmender Beliebtheit, mit kürzlichen Auszeichnungen für Projekte in Italien, Deutschland, Argentinien und den USA.
- Largest-ever ICL order for Baker Hughes, indicating strong market demand
- Significant increase in Margham Gas storage facility capacity
- Strengthens Baker Hughes' position in low-carbon solutions market
- Expands Baker Hughes' presence in the United Arab Emirates
- Demonstrates customer satisfaction with three existing ICL units in operation since 2020
- None.
Insights
This landmark order for Baker Hughes represents a significant milestone in the company's history and underscores its growing prominence in the energy technology sector. The 10 Integrated Compressor Line (ICL) units for the Margham Gas storage facility in Dubai will substantially enhance the region's gas swing storage capacity, aligning with the UAE's decarbonization strategy.
The deal's strategic importance lies in its dual benefits:
- Strengthening Dubai's energy supply stability by facilitating seamless switching between natural gas and solar power
- Supporting local decarbonization efforts through reduced emissions and high-reliability systems
For investors, this order signals Baker Hughes' strong market position in low-carbon solutions and its ability to secure large-scale projects in key global markets. The repeated trust from Dubai Petroleum Establishment (DPE) also indicates customer satisfaction and potential for future collaborations.
The positive order momentum for ICL technology across multiple countries suggests a growing global demand for Baker Hughes' energy-efficient solutions, potentially leading to increased revenue streams and market share in the coming years.
This order marks a significant business win for Baker Hughes, potentially impacting its financial performance and market position. Key points for investors to consider:
- Market Leadership: Securing the largest ICL order in company history reinforces Baker Hughes' position as a leader in energy technology solutions.
- Revenue Growth: While specific financial details are not disclosed, an order of this magnitude is likely to contribute substantially to Baker Hughes' revenue in upcoming quarters.
- Geographic Expansion: The project in Dubai, coupled with recent awards in various countries, indicates successful global market penetration and diversification of revenue sources.
- Technology Adoption: The increasing adoption of ICL technology across different applications suggests strong product-market fit and potential for sustained demand.
- Long-term Potential: As countries worldwide focus on decarbonization and energy transition, Baker Hughes is well-positioned to capitalize on this trend with its low-carbon solutions.
Investors should monitor how this order and similar ones translate into financial performance in upcoming earnings reports. The stock may see positive momentum as the market digests the implications of this significant contract.
- Baker Hughes Integrated Compressor Line (ICL) technology to enhance gas swing storage capacity as part of the United Arab Emirates decarbonization strategy
- Scope includes 10 ICL units to be installed at Margham Gas storage facility in the Emirate of Dubai
HOUSTON and LONDON, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Tuesday its largest order ever of Integrated Compressor Line (ICL) units with Dubai Petroleum Establishment (DPE), for and on behalf of Dubai Supply Authority (DUSUP), to enhance the reliability of energy supply and support local decarbonization efforts. The order was booked in the third quarter of 2024.
The 10 ICL units – five for gas storage and five for dual-use injection boosting or gas export to the existing gas distribution system – will be installed at the Margham Gas storage facility in Dubai, significantly increasing its capacity. Through the adoption of the ICL technology, the project aims to achieve a high-reliability system with reduced emissions. The project will provide stability to Dubai’s energy supply by strengthening the system’s ability to switch between natural gas and solar power.
"Our innovative ICL technology is set to be critical to support the gas infrastructure needed to address Dubai’s increasing expansion of renewables into its energy mix,” said Ganesh Ramaswamy, executive vice president of Industrial & Energy Technology at Baker Hughes. “This landmark order underscores the proven track record we have built in the market for our low-carbon solutions, and we are grateful to DPE for their continued commitment and trust as they deliver sustainable energy development.”
With already three ICL units successfully in operation since 2020, DPE’s decision to continue working with Baker Hughes is a testament to the performance and reliability of the installed technology. With zero seal leakages and minimal downtime required for maintenance, Baker Hughes’ ICL technology continues to solidify its position as a highly sought-after option in the market. The latest award from DPE continues the positive order momentum for this technology and follows awards for different applications in projects across Italy, Germany, Argentina and the United States.
About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner, and more efficient for people and the planet. Visit us at bakerhughes.com.
For more information, please contact:
Media Relations
Chiara Toniato
+39 3463823419
chiara.toniato@bakerhughes.com
Investor Relations:
Chase Mulvehill
+1 346-297-2561
investor.relations@bakerhughes.com
FAQ
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