|
|
|
Halliburton Energy Services Alliance With Tyumen Oil Moves Forward
DALLAS, Texas - Halliburton Energy Services (HES), a business unit of Halliburton Company (NYSE: HAL), is moving forward with the alliance agreement with Moscow-based Tyumen Oil Company (TNK), one of Russia's largest oil producers. The Alliance is structured to allow for the joint evaluation and development of oil and gas assets through a process of technical review, development plan design and implementation.
As announced late last year, HES will develop technical feasibility studies for TNK target assets including the construction of development and/or rehabilitation plans. Initial efforts will be directed toward four western Siberia fields, the first of which is the Samotlorskoye field. The Alliance will also consider other opportunities deemed mutually beneficial.
Recently, the TNK-HES Alliance Steering Committee approved the list of United States and Russian-made equipment to be used for rehabilitation of Samotlor. The lists will be used as a component of the U.S. Eximbank submission. Pre-qualification of the Russian and American suppliers of equipment will began under the procedures established in the General Contractors Agreement.
"We look forward to this project progressing," said Edgar Ortiz, president, Halliburton Energy Services. "HES recognizes that both companies possess capabilities which can be integrated to facilitate the development of TNK's oil assets."
By the end of May, HES, as the general contractor of Samotlor rehabilitation project, will submit to TNK pricing proposals for services and equipment. After the prices are approved, HES and TNK will finalize the General Contractor Agreement.
TNK and HES have already signed a Cementing services agreement and are in the process of finalizing Logging and Drilling services agreements outside of the scope of the U.S. Eximbank submission. These contracts will provide a basis for TNK and Halliburton to further develop their cooperative relationship in preparation for the Samotlor rehabilitation project.
Established in 1995 by government decree, Tyumen Oil Company is today one of the six largest Russian oil companies. TNK has proven oil reserves of 4.3 billion barrels and probable and possible reserves of 6.1 billion barrels, with crude oil production and refining of 400,000 barrels/day and 230,000 barrels/day, respectively. TNK also markets gasoline through its chain of 540 retail outlets.
Founded in 1919, Halliburton Company is the world's leading diversified energy services, engineering, construction, maintenance, and energy equipment company. Halliburton Energy Services provides products, services, and integrated solutions for oil and gas exploration, development and production.
Contact
Dirk Vande Beek
Hallburton Company
(p) 713.676.8097
Back to Top
| |
|
