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)
SEPTEMBER 29, 1999
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,
which are not called for by this form, that the registrant deems to be important
to security holders.
On September 29, 1999 registrant issued a press release announcing,
among other things, an award of a contract, valued at $331 million to Brown &
Root - Condor (a joint venture company between Brown & Root and Condor
Engineering SPA) by Sonatrach (the Algerian national oil company) and Anadarko
Algeria Corporation (a US oil company). If all options are executed for this
Stage II contract, the contract could have an ultimate value of $770 million.
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 September 29, 1999.
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SIGNATURES
As required by the Securities Exchange Act of 1934, the registrant has
authorized this report to be signed on behalf of the registrant by the
undersigned authorized individual.
HALLIBURTON COMPANY
Date: October 1, 1999 By: /s/ Susan S. Keith
-----------------------------------
Susan S. Keith
Vice President and Secretary
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EXHIBIT INDEX
Exhibit Sequentially
Number Description Numbered Page
20 Press Release of 5 of 6
September 29, 1999
Incorporated by Reference
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FOR IMMEDIATE RELEASE CONTACT: Wendy Hall Nantz
(September 29, 1999) Public Relations - Americas
Halliburton Company
(713) 676-5227
wendy.hall.nantz@halliburton.com
Taryn Rock
Public Relations - Europe/Africa
Halliburton Company
44 1372 86 6693
taryn.rock@halliburton.com
Guy Marcus
Vice President - Investor Relations
Halliburton Company
(214) 978-2691
guy.marcus@halliburton.com
HALLIBURTON UNIT JOINT VENTURE WINS $331 MILLION CONTRACT
If All Options Executed Contract Could Have an Ultimate Value of $770 Million
DALLAS, Texas - Brown & Root Energy Services (BRES), a business unit of
Halliburton Company (NYSE: HAL), announced today that a contract has been
awarded to Brown & Root - Condor (a joint venture company between Brown & Root
and Condor Engineering SPA) by Sonatrach (The Algerian National Oil Company) and
Anadarko Algeria Corporation (a US Oil Company) for the expansion of the oil
production facility at Hassi Berkine North South (HBNS). The engineering,
procurement and construction (EPC) lump sum contract is a 26-month project that
started August 1, 1999, with a completion date of October 1, 2001.
This Stage II contract, valued at $331 million (US dollars), was awarded to
Brown & Root - Condor after successfully completing Stage I of the contract. If
all options are executed for the contract it could have an ultimate value of
$770 million (US dollars). Brown & Root - Condor was awarded the Stage I
contract on October 4, 1996, and achieved mechanical completion 18 months later,
introducing oil into the HBNS facilities on May 4, 1998. Stage I was the first
EPC lump sum project for Sonatrach and Brown & Root - Condor completed the
contract in record time.
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"We are proud of our work on the Stage I contract and look forward to executing
this important project," said Larry Farmer, president, Brown & Root Energy
Services.
The HBNS project is located 1,100 km southeast of Algiers near the
Libyan/Tunisian boarder. Engineering and procurement work will be completed in
Algiers and Brown & Root's offices in Houston, Texas. The base bid consists of
one (1) 75,000 bpd gas/oil separation train, gas injection, and offsite
facilities (flowlines, wellheads, trunklines and field gathering stations). At
its peak, the project will be executed with a workforce of 1,200 employees.
This contract incorporates a risk/reward element to the compensation model to
allow Brown & Root - Condor to share in risks and rewards of the project.
Incentives are incorporated to improve project-to-project performance and share
in value creation. Brown & Root has an established track record of delivering
breakthrough results in these types of projects.
"This is an exciting project for our company," said Dave Lesar, president and
chief operating officer, Halliburton Company. "Thanks to our innovative
arrangement on this contract we will be able to provide the best strategic
advice and the contract truly encourages good alignment among all of the
companies."
Brown & Root Energy Services supplies engineering, construction, operations and
maintenance services to the upstream oil and gas industry worldwide. Its primary
role is the engineering, project management, construction, maintenance and
operation of the facilities that are utilized for the production and
transportation of oil and gas. Brown & Root Energy Services is a business unit
of Halliburton Company, headquartered in Dallas, Texas.
Halliburton Company is the world's leading diversified energy services,
engineering, energy equipment, construction and maintenance companies. Founded
in 1919, Halliburton provides a broad range of energy services and products,
industrial and marine engineering and construction services. In 1998,
Halliburton's consolidated revenues were $17.4 billion and it conducted business
with a workforce of approximately 100,000 in more than 120 countries. The
company's World Wide Web site can be accessed at http://www.halliburton.com.
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