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HALLIBURTON TO ASSIST IN MAXIMIZING VALUE OF MATURE FIELDS
Dallas, Texas - Halliburton Company (NYSE: HAL) is looking at new ways to extend the life of mature oil and gas fields. "Halliburton is increasingly focused on solutions that maximize customers' oil and gas assets,"said Dave Lesar, president and chief operating officer of Halliburton Company. "Consequently, we are broadening our capabilities associated with the decommissioning and abandonment of offshore oil and gas facilities, particularly in maturing oil and gas provinces like the Gulf of Mexico and the North Sea."
Halliburton, with the broadest array of products and services in the energy services industry, plans to use its innovative technology and operational expertise to extend the life of mature fields around the world.
"We want to enhance the integration of Brown & Root's surface skills with Halliburton Energy Services' reservoir skills," said Norman Chambers, president of Halliburton Energy Development. Brown & Root is Halliburton's engineering and construction subsidiary. "We are willing to provide whatever the customer wants - in terms of mixed, bundled or integrated products and services - that meets the varied and specific needs of each customer as they face the challenges of maximizing their declining fields.
In certain situations we are willing to enter into innovative business relationships with our customers such as with Amoco's interest in NW Hutton field in the North Sea, "continued Chambers. The field, which has been producing since 1982, is in the declining years of its life. Halliburton plans to assist in helping extend the field's productivity, and then help in the efficient decommissioning and abandoning of the field. Halliburton has experience in North Sea platform removals, including work in the North Sea.
Halliburton plans to commit additional resources worldwide to the study and evaluation of fields in the late years of their lives in an effort to bring a new prospective to managing these aging, though still valuable assets.
Halliburton Company is one of the world's largest diversified energy services, engineering, maintenance and construction companies. Founded in 1919, Halliburton provides a broad range of energy services and products, industrial and marine engineering and construction services. Halliburton Energy Development is pursuing new business opportunities through the integration of products, services, and technologies offered by Brown & Root Energy Services, Halliburton Energy Services, and Landmark Graphics.
Contact
Dirk Vande Beek
Media Relations
(p) 713.676.8097
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