Halliburton Sells Westport Technology Center to Intertek Caleb Brett
HOUSTON--(BUSINESS WIRE)--Oct. 7, 2005--Halliburton's (NYSE:HAL) Energy Services Group has reached an agreement to sell its Westport Technology Center to Intertek Caleb Brett, a division of Intertek Group plc (FTSE:ITRK), a global leader in outsourcing, testing, inspection, certification and related services. Intertek has acquired the assets, contracts, technology and intellectual property assets of Westport Technology Center International.
Westport Technology Center delivers comprehensive upstream technical services to the global Oil and Gas Exploration and Production industry, including expertise in drilling fluids, flow assurance, reservoir fluids, well productivity, materials, corrosion, geochemistry, geology, hydrates, and more. Westport's management team and staff will continue to run the business integrated into Intertek Caleb Brett's global laboratory network, from which it will further expand and internationalize the services from Westport's main facility in Houston.
Westport augments Intertek's global ability to supply exploration and production customers with value-added solutions through integrated and discrete products, services and project management.
Jim Renfroe, senior vice president for Halliburton's Production Optimization Division, said, "This sale, part of Halliburton's previously announced plan to divest non-strategic assets, will combine the analytical services of Westport with a worldwide provider of laboratory services and will further assist operators with their goal to optimize reservoir production, while minimizing exploration risk."
The agreement with Intertek provides Halliburton access to a source with global reach.
Intertek Caleb Brett Chief Executive Mark Loughead commented, "Westport makes an excellent addition to Intertek's strategic growth in global oil and gas exploration and production services. The growth opportunities in the oil and gas business complement and expand our business offering with new technical expertise, technologies, testing capabilities and customers. We value the continuing relationship with Halliburton, which will remain an important client for Westport. Caleb Brett will provide Westport with the resources and global infrastructure to grow upstream services internationally."
About Halliburton:
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. The company's World Wide Web site can be accessed at www.halliburton.com.
About Intertek Caleb Brett:
Intertek Caleb Brett is the world's leading 24/7 testing and inspection services provider to the global petroleum, refining and petrochemical industries. An international network of over 200 laboratories serves clients located in 118 nations. Services include E&P support, laboratory testing, outsourcing, inspection, R&D, process services, and more. The company's website can be accessed at www.intertek-cb.com.
About Westport Technology Center International:
Westport was originally established by British Petroleum in 1988. Acquired by Dresser Industries, Inc. on December 1, 1997, Westport became an independent division of the Petroleum Products and Services Group. On September 29, 1998, Dresser was merged with Halliburton to become the largest oilfield service company in the world.
Westport's website can be accessed at
http://www.itscb.com/newsitetest/services/westport/index.shtml
CONTACT: Halliburton Public Relations, Houston
Cathy Mann, 713-759-2601
cathy.mann@halliburton.com
or
Intertek Caleb Brett
Erik Holladay, 713-407-3500
erik.holladay@intertek.com
SOURCE: Halliburton