2017 Press Releases

Halliburton Technologies Win OTC Awards The EcoStar™ Electric Safety Valve and HCS AdvantageOne™ Offshore Cementing System Earn Prestigious Spotlight on New Technology Honors

HOUSTON – May 1, 2017 – Halliburton (NYSE: HAL) today announced that it is the recipient of two Offshore Technology Conference (OTC) 2017 Spotlight on New Technology Awards. The EcoStar™ electric tubing-retrievable safety valve and the HCS AdvantageOne™ cementing system were both chosen as industry-leading technologies based on several criteria: they are less than two years old, they are proven applications, they have broad industry appeal and they demonstrate significant benefits beyond existing technologies.

The EcoStar valve is the world’s first electric tubing-retrievable safety valve (e-TRSV) developed in collaboration with TOTAL. It eliminates hydraulic fluid to enable a fully electric completion system and minimizing the risk of exposing electronics to produced wellbore fluids while retaining the same safety mechanism as today’s conventional safety valves. The EcoStar e-TRSV provides direct positional feedback between the full open and full closed positions, and includes sensor communication back to the surface, which allows for analysis and diagnostic capabilities that are not available in any other safety valve today.

Artie Burke, vice president of the Halliburton Completion Tools business line said, “We are thrilled that the EcoStar e-TRSV has won this prestigious award. In addition to its safety benefits, switching a subsea project from hydraulic to all-electric functionality by using the EcoStar e-TRSV can save as much as 40% on CAPEX. The EcoStar e-TRSV was installed for TOTAL in 2016 in an all-electric control system, and we envision it enabling frontier developments in deep water in the years to come.”

The HCS AdvantageOne offshore cementing system addresses the complexities of deepwater with the versatility for use in all offshore environments. It is an intuitive system that enables remote operations, has an integrated liquid additive system for precise slurry blending, and predictive maintenance capabilities with shore based monitoring to help preempt equipment-related non-productive time.

Shannon Slocum, vice president of Cementing for Halliburton said “the AdvantageOne system represents a breakthrough in offshore automation and we are very pleased that it has been recognized by OTC for its accuracy and proven reliability in depths that exceed the pressure limit of conventional equipment.

The AdvantageOne system reduces our footprint on a rig and our customers appreciate that the design of its remote management system enhances collaboration to keep projects running efficiently.”

Halliburton will receive its awards during the OTC conference on Monday, May 1, at 4 p.m.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 50,000 employees, representing 140 nationalities and operations in approximately 70 countries, the company serves the upstream oil and gas industry throughout the lifecycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit the company's website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, and YouTube.

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