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    Halliburton Wins Saudi Contract

Summary

Saudi Aramco has awarded Halliburton a contract for unconventional gas stimulation services.

by: Shardul Sharma

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Halliburton Wins Saudi Contract

Saudi Aramco said May 27 it has awarded Halliburton a contract for unconventional gas stimulation services “to further improve the economics of Saudi Aramco’s Unconventional Resources Programme.”

The company said that the contract “reflects Saudi Aramco’s 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 new agreement will provide lump sum turnkey stimulation services which include hydraulic fracturing and well intervention operations.

Saudio Aramco CEO Amin Nasser said that over the past three years, the company has made great strides in developing the nation’s unconventional resources programme, with emphasis on unconventional gas as an important clean energy source for the future. “Now, with this contract formalised today with Halliburton, we enter the important next phase of achieving our gas expansion objectives. Halliburton has been a reliable provider of products, services and technologies to our company for many decades. We welcome their expertise in unconventional resources, and we have great confidence in our joint ability to achieve operational and cost efficiencies for this important growth area.”

Saudi Aramco’s unconventional resources programme spans three areas of Saudi Arabia: North Arabia, South Ghawar and Jafurah/Rub’ Al-Khali.