Climate Change Position Statement

Climate change is increasingly seen as a major factor for business.  Reducing carbon emissions is good for the environment and good for business. Finding ways to take advantage of climate change initiatives is seen as a key business opportunity.

Our goal is to provide products and services that have the smallest environmental impact, are safe in their intended use, consume energy and natural resources efficiently and can be recycled, reused or disposed of safely. We seek to develop services and technologies for maximizing the recovery of oil and gas in existing reservoirs, and for pursuing clean and renewable energy sources for the future.

Halliburton views Health, Safety, Environment & Service Quality as critical to our success and long-term sustainability and we are committed to continuously improve our performance. Our Corporate HSE Policy is overseen by the Health, Safety and Environmental Committee of the board of directors, which provides direction for the management of HSE and input on current and emerging health, safety and environmental issues.

The company acknowledges the growing global consensus that human activity, through the use of fossil fuels, contributes to the increasing concentration of greenhouse gases (GHG) in the atmosphere.  This is widely believed to be a contributory factor in global warming thus impacting climate change. 

We track emissions of CO₂ [including methane but excluding nitrous oxide (N₂O)] from our primary sources: facilities, on-road vehicles and off-road service equipment. In 2007, these company sources emitted 3.27 million metric tonnes of CO₂ equivalent, a 4 percent increase from 2006. Halliburton mobile field equipment, including on-road and off-road engines, are our biggest CO₂ emission source. In addition, Halliburton collects data on GHG emissions from all company locations.

The effective capture and storage of CO₂ involves many of Halliburton’s core competencies: subsurface assessment, drilling, cementing, completion, stimulation, monitoring and remediation.

Carbon capture and storage (CCS) is widely considered a primary means to reduce emissions of CO₂ and other GHG in the atmosphere. Halliburton is active in global industry, academic and government efforts to commercialize CCS. This involvement supports our climate change strategy by providing methods to reduce GHG emissions and through participation in developing effective public policy and regulations.

CCS involves transporting CO₂ from power plants and other industrial businesses to deep saline aquifers and oil and gas reservoirs. CO₂ is injected into the reservoirs via wells and must be monitored for decades to detect and prevent leakage. Halliburton technology, products and services address most aspects of CCS: site selection, subsurface assessment and characterization; field and well design and planning; well placement, wellbore integrity and drilling; completions and containment; operations; monitoring, mitigation and verification throughout the CCS project lifecycle; and regulatory compliance.

We bring more than 30 years of experience working with carbon dioxide injection for enhanced oil recovery (EOR) that is directly applicable to CCS. Halliburton has been the leading provider of well services and products for EOR projects, with market share well over 50 percent in several product service lines. These projects now have more than 15,000 wells operating to inject CO₂, produce oil and recycle CO₂ from production.

Halliburton is involved in CCS commercial projects in Mexico, Norway, Australia and Algeria, both onshore and offshore. In the U.S., Halliburton was selected to provide services for a Department of Energy (DOE) regional partnership studying technologies to facilitate CO₂ sequestration.

Sustainable production and environmental stewardship are key considerations in every Halliburton undertaking. We continuously seek to prevent or mitigate the environmental impacts of our industry and our own work primarily by continuing to develop industry-leading technologies that both reflect and advance our standard of sustainability.

To continue to pursue our responsibility of environmental stewardship and in support of global efforts to reduce greenhouse gas emissions, Halliburton will:

1. Estimate direct and certain indirect GHG emissions from our business operations.
2. Set targets for cost effective GHG emissions reductions while maintaining the safety of our operations.
3. Assist our customers in effective utilization of our portfolio of products and services to help them reduce their GHG emissions in the development of their hydrocarbon resources.
4. Support the development of effective public policy and regulation that is rational, market-based and efficiently addresses climate change.
5. Inform our employees on climate change issues and what actions they can take to reduce GHG emissions at and away from work.
6. Report publicly and transparently on our activities and progress on these efforts.