HOUSTON, May 02, 2012 (BUSINESS WIRE) --Halliburton (NYSE: HAL) has signed a Strategic Cooperation Agreement with Gazprom International for the development and implementation of new oil and gas technologies in global exploration and production projects.

The agreement sets the framework for the ongoing exchange of information related to oil and gas technologies, for technical training to be provided to Gazprom International by Halliburton, and for the deployment of Halliburton technology on Gazprom International projects. The technologies will address areas including tight gas, deepwater, advanced software applications and integrated workflows.

"Halliburton has invested considerable resources in research and development for new technologies, which support our customers' activities," said Brady Murphy, Halliburton's senior vice president of Business Development for the Eastern Hemisphere. "This agreement provides an opportunity for Gazprom International and Halliburton to mutually benefit from the implementation of these technologies and to build a closer strategic working relationship."

Valeriy Gulev, Gazprom International's managing director, said, "We expect that cooperation with Halliburton will extend our engineering capability, improve Gazprom International's competitive performance, and broaden the range of our possibilities in the areas of exploration and development of hydrocarbons."

ABOUT HALLIBURTON

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With nearly 70,000 employees in approximately 80 countries, the company serves the upstream oil and gas industry throughout the life cycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit the company's website at http://www.halliburton.com.

SOURCE: Halliburton

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