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HALLIBURTON ENERGY SERVICES RECEIVES WELL SERVICES CONTRACT FROM MARATHON OIL
HOUSTON, Texas - Halliburton Energy Services (HES) was awarded a contract by Marathon Oil to provide slickline and well services in the Brae area of the North Sea. HES is a business unit of Halliburton Company (NYSE: HAL).
Slickline is a well intervention service performed by deploying tools on small diameter, high-strength solid steel wire into the production tubing. Well maintenance, remedial, control and safety functions are accomplished under pressure by mechanical manipulation of various downhole flow control devices using specially designed surface machinery.
The contract is for three years with two one-year extension options, and could be worth $11 million. It calls for HES to provide skilled personnel, including a dedicated onshore well services coordinator to liase with key Marathon personnel, for the execution of all daily operations. Currently, HES personnel has dedicated employees assisting in E-line and fluid pumping operations, thus reducing the need for more personnel offshore.
"The North Sea is a target market for HES," said Jody Powers, president, Halliburton Energy Services. "This win emphasizes our focus on providing safe, quality services in the North Sea for our customers."
Derek Wood, Halliburton's CPS UK operations manager, said, "Halliburton CPS has been recognized as having an excellent safety performance record, and with 'safety first' being an essential component in both Halliburton's and Marathon's strategies, it was an important
element in HES getting this contract."
Incentivization (pay for performance) and multi-skilling (dedicating competent people to Marathon installations) also played a large role in the contract award, Wood said.
Halliburton Energy Services provides products, services, and integrated solutions for oil and gas exploration, development, and production. Capabilities range from the initial evaluation of producing formations to drilling, completion, production enhancement, and well maintenance - for a single well or an entire field. With over 300 service centers in more than 90 countries, Halliburton possesses the global perspective that is increasingly important for energy exploration and production.
Founded in 1919, Halliburton Company is the world's leading diversified energy services, engineering, construction, maintenance and energy equipment company. In 1999, Halliburton's consolidated revenues were $14.9 billion and it conducted business with a workforce of approximately 100,000 in more than 120 countries. The company's World Wide Web site can be accessed at http://www.halliburton.com.
Contact
Zelma Branch
Halliburton Company
(p) 713.676.7067
zelma.branch@halliburton.com
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