-
Three-year contract (two-year base + one-year extension option)
for Unconventional Gas Stimulation Services
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Integrated approach to help Saudi Aramco achieve rapid growth
plans
HOUSTON--(BUSINESS WIRE)--May 27, 2018--
Halliburton Company (NYSE:HAL) today announced the signing of the
Unconventional Gas Stimulation Services contract with Saudi Aramco to
further improve the economics of Saudi Aramco’s Unconventional Resources
program. Halliburton will utilize an integrated approach to support
Saudi Aramco’s increased recovery and meet production targets by
providing project management, hydraulic fracturing, coiled tubing,
wireline and perforating, completion tools and testing services.
“As a leader in unconventional resource development, we believe
Halliburton will work best with Saudi Aramco to help in our pursuit of
unconventional gas to serve domestic needs, offset local crude burning,
provide feedstock for chemical industry development, and spur regional
economic development in line with Vision 2030, the Kingdom’s national
transformation program,” said Mohammed Y. Qahtani, Saudi Aramco Senior
Vice President of Upstream. “This contract includes a strong component
to support our In Kingdom Total Value Add Program as developing Saudi
labor force and developing and utilizing local suppliers is vital to the
success of this project.”
“We are excited to apply our broad knowledge, efficiency and experience
in unconventionals from Halliburton’s leadership position in North
America to Saudi Arabia,” said Jeff Miller, president and CEO of
Halliburton. “This is a great opportunity to provide a tailored
application of Halliburton technology, logistics management and
operational excellence to maximize Saudi Aramco’s asset value and
deliver optimal recovery.”
Senior Executives from Saudi Aramco and Halliburton participated in a
signing ceremony for the project today and work will begin in June 2018.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest providers of
products and services to the energy industry. With over 55,000
employees, representing 140 nationalities in more than 80 countries, the
company helps its customers maximize value throughout the lifecycle of
the reservoir – from locating hydrocarbons and managing geological data,
to drilling and formation evaluation, well construction and completion,
and optimizing production throughout the life of the asset. Visit the
company’s website at www.halliburton.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20180527005023/en/
Source: Halliburton Company
Halliburton
For Investors:
Lance Loeffler,
281-871-2688
Halliburton, Investor Relations
Investors@Halliburton.com
or
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Emily Mir, 281-871-2601
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