Baker Hughes saw its net income more than quadruple in the third quarter of this year, from the same period a year ago, according to the company's financial statement released on Wednesday.
One of world's biggest oilfield services company, Baker Hughes, saw a net income of $57 million in the July-September period of 2019, up from $13 million for the same period of 2018.
Revenue came in at $5.88 billion in the third quarter of 2019, up from $5.6 billion during the same quarter of 2018, to post a 3.9% increase.
Baker Hughes Chairman and Chief Executive Officer Lorenzo Simonelli said in the statement that the company had strong growth in oilfield equipment orders and improvements in the oilfield services business.
The company said it signed a large agreement with Saudi Aramco in July to provide well intervention equipment and associated services for a number of key projects over the next five years, adding that it has also won a large contract to provide cementing and stimulation services across multiple fields.
By Ovunc Kutlu