Halliburton Wins Modular Rig Award from Shell in N. Sea

Halliburton has been awarded a one-year contract (with four one-year extension options) by Shell U.K. Limited for the provision of a portable modular rig. The initial work contract period is for one workover and three sidetracks on the Shell Gannet platform - operations which have the potential to increase the field's oil production. The project is due to commence in the fourth quarter of 2008.

The design of the rack-and-pinion workover unit allows it to be installed quickly on platforms that have limited crane-lift and personnel-on-board capacities. It can also be used on installations with non-serviceable, or non-existing drilling derrick sets.

The award represents a step change in the sustainable development of Shell's mature fields. The Gannet field, for example, has significant untapped oil volumes in its thin oil rim.

"This award underscores our belief in the continued long-term viability of the North Sea industry," said Mike Bowyer, Halliburton's United Kingdom country vice president. "Halliburton is committed to helping its customers extend the life of their assets, and the introduction of new technology, such as the modular rig, will be a key contributor in achieving this objective."