Halliburton Secures Fluids Contract Extension From StatoilHydro

Published: 15-Jul-2009

By: Staff Writer Staff Writer Staff Writer

Halliburton Company (Halliburton), a provider of services and products to the energy industry, has been awarded a two-year contract extension by StatoilHydro ASA (StatoilHydro) to provide fluids systems for multiple fields, currently including cementing services for 20 rigs and drilling and completion fluids for 16 rigs on the Norwegian continental shelf. The contract extension, estimated by Halliburton to be valued at around $450 million, is the second two-year option exercised by StatoilHydro.

This contract encompasses solutions offerings across both of Halliburton's business segments, Completion and Production, and Drilling and Evaluation.

We are extremely pleased to be awarded this contract extension, said Jorunn Saetre, Halliburton vice president, Scandinavia. Through our continuing and close collaboration with StatoilHydro, we look forward to providing our integrated fluids services and working together to improve drilling and well performance.

The duration of the initial contract, awarded in 2006, was two years, with additional extension options of three two-year periods.

Halliburton will provide drilling fluids, drilling waste management, cementing services, completions fluids and pumping services under this contract extension.

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