Halliburton Company has signed unconventional gas stimulation services contract with Saudi Aramco to further improve the economics of Saudi Aramcos unconventional resources programme
Under the terms of the agreement, Halliburton will utilise an integrated approach to support Saudi Aramco's increased recovery and meet production targets by providing project management, hydraulic fracturing, coiled tubing, wireline and perforating, completion tools and testing services.
“As a leader in unconventional resource development, we believe Halliburton will work best with Saudi Aramco to help in our pursuit of unconventional gas to serve domestic needs, offset local crude burning, provide feedstock for chemical industry development and spur regional economic development in line with Vision 2030, the kingdom's national transformation programme,” said Mohammed Y Qahtani, senior vice-president for upstream at Saudi Aramco.
“This contract includes a strong component to support our in-kingdom Total Value Add Programme as developing Saudi labour force and developing and utilising local suppliers is vital to the success of this project,” Qahtani added.
Commenting on the agreement, Jeff Miller, president and CEO of Halliburton, said, “This is a great opportunity to provide a tailored application of Halliburton technology, logistics management and operational excellence to maximise Saudi Aramco's asset value and deliver optimal recovery.”
According to Halliburton, the work is set to begin in June 2018.
