Saudi Aramco Awards Halliburton Contract for Unconventional Resources Project
May 27 2018 - 7:58AM
Business Wire
- Three-year contract (two-year base +
one-year extension option) for Unconventional Gas Stimulation
Services
- Integrated approach to help Saudi
Aramco achieve rapid growth plans
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. Connect with Halliburton
on Facebook, Twitter, LinkedIn, Instagram and YouTube.
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