Halliburton Inaugurates New Unconventional And Reservoir Productivity Technology Center In Saudi Arabia

Halliburton (NYSE: HAL) announced today the opening of its new Unconventional and Reservoir Productivity Technology Center at King Fahd University of Petroleum and Minerals (KFUPM) located in Dhahran Techno-Valley. The new center enables Halliburton to provide state-of-the-art research and development solutions for conventional and unconventional reservoirs addressing challenges both in the Kingdom and regionally.

The center provides a base to develop strong relationships with local universities like KFUPM to develop technology which is expected to lead to employment and training opportunities for Saudi technicians and university graduates.

The Halliburton Dhahran Unconventional and Reservoir Productivity Technology Center will support the development of unconventional reservoir productivity practices in the Kingdom. Collaboration between Saudi Aramco and Halliburton research and development scientists, together with the engagement of KFUPM researchers and Halliburton’s diverse unconventional expertise, will allow solutions to be developed locally and quickly implemented in the Kingdom’s fields.

Halliburton’s long history in the Kingdom and the establishment of this multi-million dollar technology center demonstrates Halliburton’s continued commitment to investment in the Kingdom and to the delivery of the latest technology and expertise. The center is expected to provide technology and solutions to existing and future partners in the region and around the globe, contributing to the development of local workforces and national economies.

Halliburton provides a wide range of products and services to Saudi Aramco and currently employs more than 3,000 people in the Kingdom.

ABOUT HALLIBURTON

Founded in 1919, Halliburton is one of the world’s largest providers of products and services to the energy industry. With more than 75,000 employees, representing more than 140 nationalities 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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