Dialog, Halliburton in $1.2B Deal to Develop Offshore Bayan Field

Dialog, Halliburton in $1.2B Deal to Develop Offshore Bayan Field

Malaysia's Dialog Group said Monday that it has inked an agreement with Halliburton International for a contract worth $1.2 billion aimed at boosting oil output from the mature Bayan Field, located offshore Sarawak.

The signed contract sees Dialog taking a 50 percent interest into Halliburton Bayan Petroleum (HBP) through its wholly owned subsidiary Dialog D&P.

Commenting on the partnership deal, Dialog said in a statement that "[the agreement] is in line with Dialog's strategy to continue developing its upstream capabilities, which include the rejuvenation and re-development of mature oil fields."

HBP entered a contract Nov. 7 as an independent technical service contractor with Petronas Carigali to provide oilfield services required to enhance the recoverable reserves from the Bayan Field.

In June of this year, Dialog entered a memorandum of understanding with Halliburton to jointly pursue projects and opportunities pertaining to the re-development of mature oil fields in Malaysia.

The Bayan Field is sited approximately 19 miles (30 kilometers) south of the West Acis Field; which is one of the four marginal oil and gas fields that form part of the Balai Cluster.


Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Sales Engineer - West Texas
Expertise: Business Development|Field Service Tech|Sales
Location: West Texas, TX
Sales Engineer - Oklahoma
Expertise: Business Development|Field Service Tech|Sales
Location: Mid-Con, OK
Field Service Technician
Expertise: Field Service Tech
Location: Carrizo Springs, TX
search for more jobs

Brent Crude Oil : $46.17/BBL 0.10%
Light Crude Oil : $43.04/BBL 0.39%
Natural Gas : $2.21/MMBtu 0.45%
Updated in last 24 hours