BAKU, Azerbaijan, February 3. Baker Hughes’ revenue by product line for its Oilfield Services & Equipment (OFSE) segment revealed a strong performance in Subsea & Surface Pressure Systems during Q4 2024, offsetting declines in other categories, Trend reports.
According to the producer's latest financial statement, total product line revenue for the quarter was $3.871 billion, down 2% sequentially and year-over-year.
Performance by product line
- Subsea & Surface Pressure Systems: The standout performer with $932 million in revenue, marking a 1% sequential increase and a robust 23% year-over-year growth.
- Well Construction: Revenue declined significantly to $943 million, representing a 10% sequential and 16% year-over-year drop. Lower activity levels in some regions contributed to the decline.
- Completions, Intervention, and Measurements: Revenue rose slightly to $1.022 billion, up 1% sequentially but down 6% year-over-year, signaling stabilization in the segment.
- Production Solutions: Revenue dipped 1% sequentially and 2% year-over-year, totaling $974 million.
