Halliburton Awarded Contract to Develop Manifa Offshore Project

Halliburton (NYSE:HAL) has been selected to provide a variety of oilfield services in support of the offshore portion of Saudi Aramco’s Manifa mega-project. The Manifa project has a production target of 900 MBCD (thousand barrels of oil per calendar day), making it Saudi Aramco’s second largest incremental oil production project. The three-year contract calls for the provision of directional drilling, logging-while-drilling, cementing, logging and perforating, coiled tubing and stimulation services for 93 wells offshore Northeast Saudi Arabia. The offshore component of this project will utilize 10 jack-up rigs. The Manifa project is a key part of Saudi Aramco’s plan to increase its overall production capacity. Ahmed Lotfy, Halliburton’s Eastern Hemisphere president, said: "To be selected by Saudi Aramco for yet another project of this magnitude demonstrates our client’s continued confidence in our ability to successfully execute such complex and challenging operations. This contract award validates our commitment to expand customer relations with national oil companies and grow Halliburton’s international business.” "Halliburton has worked with Saudi Aramco for nearly 70 years and has maintained an impressive track record of safely and successfully delivering mega-projects,” added Gasser Badrashini, vice president of Halliburton’s Saudi Arabia and Bahrain operations. "Following on from the success of our work on the Khurais mega-project, which is currently ahead of schedule, the award of the Manifa project reflects our solid performance and leading technologies.” Halliburton has performed thousands of service operations for Saudi Aramco. From well construction to fluid systems and from drilling and formation evaluation to production optimization, Halliburton has worked in a multitude of different reservoirs and wells, ranging from basic to complex, with customized solutions for Saudi Aramco’s Drilling and Workover and other Exploration and Production departments. Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 50,000 employees in approximately 70 countries, the company serves the upstream oil and gas industry throughout the life cycle 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 Web site at www.halliburton.com.