The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( Trefis) -- Leading oilfield services player Halliburton ( HAL) has announced a deal with Malaysian state oil company Petronas to explore shale reserves in the country. Halliburton is looking to export its shale expertise to regions outside the U.S. and is already providing unconventional exploration services in Latin American and European countries. A slowdown in shale gas exploration activity in the U.S. forced by low gas prices in North America is hastening the company to push for markets outside the country. Halliburton is the second largest player in the oilfield services segment after world leader Schlumberger ( SLB).
Halliburton already has close to 5,500 employees in the Asia Pacific region and is looking to capitalise on the future efforts to explore unconventionals in countries like Indonesia, Malaysia and Australia. This is expected to boost rig counts in the Asia and Middle East region over the next few years. Click here to find out how a company's products impact its stock price at Trefis. Like our charts? Embed them in your own posts using the Trefis Wordpress Plugin.