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TheStreet Open House

Halliburton And PETRONAS Carigali Collaborate For The Evaluation And Development Of Shale Resources

Halliburton (NYSE: HAL) and PETRONAS Carigali Sdn Bhd (PETRONAS Carigali) have signed a Framework Agreement for the evaluation and development of global shale resources. The signing ceremony was held on Feb. 9, 2012, at the KL Convention Centre in Kuala Lumpur.

This collaboration will enable PETRONAS Carigali to shorten its in-house capability development by leveraging on Halliburton’s technology and experience in the North America shale industry. Halliburton will work with PETRONAS Carigali to set up a Shale Technical Centre of Excellence in Kuala Lumpur.

Halliburton has experience in all of the active major shale basins. The company is aggressively expanding its global infrastructure to support shale development outside of North America.

“One of the cornerstones of Halliburton’s strategy is to maintain leadership in unconventional plays,” said Jeff Miller, Halliburton’s senior vice president of Global Business Development and Marketing. “Expanding into the Asia Pacific market and providing the same quality level of service we already provide in North America fits into that strategy.”

Halliburton currently employs more than 5,600 people in the Asia Pacific region.

ABOUT HALLIBURTON

Founded in 1919, Halliburton is one of the world’s largest providers of products and services to the energy industry. With nearly 70,000 employees in approximately 80 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.

Copyright Business Wire 2010

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