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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (date of earliest event reported)
JANUARY 13, 1997
Halliburton Company
(Exact name of registrant as specified in its charter)
State or other Commission IRS Employer
jurisdiction File Number Identification
of incorporation Number
Delaware 1-3492 No. 75-2677995
3600 Lincoln Plaza
500 North Akard Street
Dallas, Texas 75201-3391
(Address of principal executive offices)
Registrant's telephone number,
including area code - 214/978-2600
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INFORMATION TO BE INCLUDED IN REPORT
Item 5. Other Events
The registrant may, at its option, report under this item any events,
with respect to which information is not otherwise called for by this form, that
the registrant deems of importance to security holders.
On January 13, 1997, registrant issued a press release entitled
Halliburton and Cairn Energy Announce Sangu Agreement and Plan Approval
pertaining, among other things, to an announcement that on January 11, 1997
registrant and Cairn Energy PLC signed a gas purchase and sale agreement with
the Bangladesh Oil, Gas and Mineral Corporation (PetroBangla). Registrant and
Cairn also received development plan approval from PetroBangla for the Sangu gas
field in Block 16 offshore Bangladesh. In order to align interests of registrant
and Cairn under the contract-to-produce agreement, registrant has agreed to
acquire a 25 percent interest in the Sangu field from Cairn.
The foregoing summary is subject to the full text of the press release
with respect thereto, a copy of which is attached hereto as Exhibit 20, which
exhibit is incorporated herein by reference.
Item 7. Financial Statements and Exhibits
List below the financial statements, pro forma financial information
and exhibits, if any, filed as part of this report.
(c) Exhibits.
Exhibit 20 - Press release dated January 13, 1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HALLIBURTON COMPANY
Date: January 14, 1997 By: /s/ Susan S. Keith
Susan S. Keith
Vice President, Secretary and
Corporate Counsel
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EXHIBIT INDEX
Exhibit Sequentially
Number Description Numbered Page
20 Press Release of
January 13, 1997 5 of 6
Incorporated by Reference
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FOR IMMEDIATE RELEASE Contact-Guy T. Marcus
January 13, 1997 Vice President-Inv. Rel.
(214) 978-2691
HALLIBURTON AND CAIRN ENERGY ANNOUNCE
SANGU AGREEMENT AND PLAN APPROVAL
DALLAS, Texas -- Halliburton Company (NYSE-HAL) and Cairn
Energy PLC announce that on January 11, 1997 the companies signed
a gas purchase and sale agreement with the Bangladesh Oil, Gas
and Mineral Corporation (PetroBangla). Also, Halliburton and
Cairn received development plan approval from PetroBangla for
the Sangu gas field in Block 16 offshore Bangladesh.
The signing ceremony was witnessed by Sheik Hasina,
Honorable Prime Minister of the People's Republic of Bangladesh
and The Right Honorable John Major, Prime Minister of the United
Kingdom.
In July 1996 Halliburton entered into a contract-to-produce
agreement with Cairn that was conditional upon obtaining the
January 11 approvals. Also, in order to align the interests of
Halliburton and Cairn under the contract-to-produce agreement,
Halliburton has agreed to acquire a 25 percent interest in the
Sangu field from Cairn.
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The Sangu gas field is located in the Bay of Bengal
approximately 45 kilometers to the southwest of the port of
Chittagong. All of the parties to these agreements are currently
pursuing a fast-track development program with a target of
delivering first gas by pipeline to the City Gates in Chittagong
by April 1998.
Dick Cheney, Halliburton Company's chief executive officer,
stated, "Halliburton's participation in the development of the
Sangu gas field, as well as production related activities, is an
exciting opportunity to provide the Company's broad range of
integrated services capabilities in its alliance with Cairn. We
look forward to working with all parties over the life of the
field."
Bill Gammell, chief executive of Cairn, said today, "We are
committed to the development of the Sangu gas field and the
continuation of Cairn's aggressive 1997 exploration program on
Blocks 15 and 16 in Bangladesh."
Halliburton Company is one of the world's largest
diversified energy services, engineering, maintenance, and
construction companies. Halliburton provides a broad range of
energy services and products, industrial and marine engineering
and construction services.
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