Halliburton Selected for Offshore Israel Campaign
Halliburton Company (NYSE: HAL) has announced that it has been awarded an integrated services contract to execute a three to five well drilling and completions campaign for Energean.
The deal is for three firm and two optional wells to deliver all services including project management, directional drilling, drill bits, drilling fluids, cementing, solids control, wireline, slickline, completions, production enhancement and subsea services, Halliburton highlighted.
The work follows a successful four well offshore drilling campaign that Halliburton previously executed in the Karish and Karish North gas fields, Halliburton noted. The value of the contract was not disclosed by the companies.
“We are excited to build on our strong relationship with Energean and honored to once again be selected to deliver integrated project management services that maximize the value of their offshore Mediterranean wells,” Ahmed Kenawi, Halliburton’s senior vice president of Europe, Eurasia and Sub-Saharan Africa Region, said in a company statement.
“This campaign will deliver a fully integrated solution using our Halliburton 4.0 digital platform and drilling technologies to optimize well delivery,” Kenawi added in the statement.
In Halliburton’s second quarter earnings release, published on July 20, Jeff Miller - the company’s chairman, president and chief executive officer – said the company’s completion and production division margin reached three-year highs, while its drilling and evaluation division margin outperformed expectations. Miller outlined that the performances set both divisions up for “robust margin growth this year”.
Energean is a London-based independent exploration and production company focused on developing resources in the Mediterranean and UK North Sea. According to its website, the company’s flagship development assets are the multi trillion cubic feet Karish, Karish North and Tanin fields, offshore Israel. In the country, the business also holds 100 percent interests in the Karish and Tanin leases and in Blocks 12, 21, 23 and 31 and 80 percent interests in four licenses in Zone D in Israel’s EEZ.
Halliburton, which was founded in 1919, describes itself as one of the world's largest providers of products and services to the energy industry. The company has more than 40,000 employees, representing 130 nationalities in more than 70 countries, its website shows.
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