Halliburton AS Acquires Norwegian Process Technology AS; Strategic Acquisition Supports Customer Demand for Nitrogen Services
HOUSTON--(BUSINESS WIRE)--Nov. 2, 2005--Halliburton's (NYSE:HAL) Norwegian affiliate, Halliburton AS, has acquired the assets of Norwegian Process Technology (NPT) AS to support the increasing market demand for nitrogen services within the energy production and processing industries.
"This acquisition is aligned with our strategy to increase our presence in the Pipeline and Process Services market," said Jim Renfroe, senior vice president, Halliburton's Production Optimization Division. "It will also provide additional resources to support the increasing local demand for nitrogen services in our more traditional stimulation and completion markets."
NPT, established in 1998, is a recognized leader in the provision of both nitrogen equipment and nitrogen services for both onshore and offshore Norwegian markets. Some services offered by NPT include handling, storage, transport and vaporization of cryogenic nitrogen. In addition, the company offers specialized leak testing, video inspection, nitrogen purging and drying services for hydrocarbon processing systems.
Halliburton, founded in 1919, is one of the world's largest providers of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services Group and KBR. Visit the company's World Wide Web site at www.halliburton.com.
CONTACT: Halliburton Public Relations, Houston
Zelma Branch, 713-759-2601
Zelma.branch@halliburton.com
SOURCE: Halliburton