Baker Hughes Wins Eni Subsea Contract for Cyprus Gas Project

10:18 AM EDT, 10/28/2026 (MT Newswires) -- Baker Hughes (BKR) reported Wednesday a "significant" contract from Eni (E) to supply subsea production equipment and services for Cronos, a deepwater gas development offshore Cyprus. The systems scope includes deepwater subsea trees, wellheads, connectors, manifolds, topside controls and associated services, the company said. Work on the project is underway, with initial equipment deliveries expected in H1 of 2027, it said. The award was booked in Q3. Shares were down about 6% in morning trading. Price: 55.03, Change: -3.97, Percent Change: -6.73