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Halliburton in talks with Amoco
Regarding purchase of NW Hutton Field
DALLAS, Texas - Halliburton Energy Development (HED), a business unit of the Halliburton Company(NYSE: HAL), confirmed today that it is in negotiation with Amoco for the purchase of its 25.77% interest in the NW Hutton asset in the North Sea. The acquisition and change of operatorship would require the approval of the UK Government and the other partners in the asset, Cieco, Petrobras and Mobil.
"By applying Halliburton's core skills and expertise and striving for comprehensive alignment with our customers and partners, we can achieve more creative and cost-effective solutions to extend the life of mature assets like NW Hutton," said Norman Chambers, president of HED.
The 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 companies. Halliburton Energy Services is a leading supplier of products, services and integrated solutions to the energy industry.
Editor's Note: The NW Hutton asset falls in North Sea blocks 211/27a and 211/27c, and also comprises minor interests in the Brent oil export system and the Sullom Voe terminal. NW Hutton has been in production since 1982 through a single fixed leg platform.
Amoco is currently the NW Hutton field Operator and holds a 25.77% in interest in the asset. Other partners are Cieco (25.77%), Petrobras (28.46%) and Mobil (20%).
Contact
Dirk Vande Beek
Public Relations
Halliburton Company
(p) 713.676.8097
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