Halliburton Awarded Mature Field Contracts from Petroamazonas
October 08 2014 - 6:14PM
Business Wire
Integrated Asset Management to help increase
Ecuadorian production
Halliburton (NYSE: HAL) today announced it has signed long-term
contracts with Petroamazonas, Ecuador’s state-run oil company, to
provide field development and project management, as well as
drilling and completions services, across nine mature fields,
including the Palo Azul, Lago Agrio and Victor Hugo Ruales fields.
The contracts terms are 15 years plus a potential five-year
extension. Halliburton plans to invest approximately $1 billion
during the first five years to enhance oil recovery from existing
wells and discover new hydrocarbon reserves.
“The development and deployment of Halliburton’s technology to
improve production from previously produced reservoirs will
immediately assist Petroamazonas’ objective to maximize the value
of these mature assets,” said Jim Brown, president of Halliburton’s
Western Hemisphere. “We have provided consulting and well-related
services to Petroamazonas for many years and now welcome the
opportunity to bring this customer our full range of technologies
and Integrated Asset Management to increase production and
reserves.”
Halliburton’s groundbreaking mature field oil and gas solutions
help enable recovery of remaining and bypassed reserves that were
not previously economic. Applying a holistic approach, reservoir
understanding and the latest improvements in well configurations
and production systems will optimally energize these mature
reservoirs.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest
providers of products and services to the energy industry. With
more than 80,000 employees, representing 140 nationalities in over
80 countries, the company serves the upstream oil and gas industry
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 through the life of the field. Visit the
company’s website at www.halliburton.com. Connect with Halliburton
on Facebook, Twitter, LinkedIn, Oilpro and YouTube.
HalliburtonFor Investors:Kelly Youngblood,
281-871-2688Halliburton, Investor
RelationsInvestors@Halliburton.comorFor Media:Emily Mir,
281-871-2601Halliburton, Public RelationsPR@Halliburton.com
Halliburton (NYSE:HAL)
Historical Stock Chart
From Aug 2024 to Sep 2024
Halliburton (NYSE:HAL)
Historical Stock Chart
From Sep 2023 to Sep 2024