Saudi Aramco Inks Halliburton Unconventional Gas Stimulation Services Deal
Saudi Aramco has signed an unconventional gas stimulation services contract with Halliburton.
The new agreement will provide lump sum turnkey stimulation services, which include major hydraulic fracturing and well intervention operations.
Saudi Aramco said the deal reflects its pursuit of unconventional gas to serve domestic needs, offset local crude burning, provide feedstock for chemical industry development, and spur regional economic development in line with Vision 2030, the Kingdom’s national transformation program.
“Over the past three years, Saudi Aramco has made great strides in developing our unconventional resources program, with emphasis on unconventional gas as an important clean energy source for the Kingdom’s future,” Amin H. Nasser, president and CEO of Saudi Aramco, said in a company statement.
“Now, with this contract formalized … with Halliburton, we enter the important next phase of achieving our gas expansion objectives,” he added.
Saudi Aramco’s unconventional resources program spans three areas of Saudi Arabia; North Arabia, South Ghawar and Jafurah/Rub’ Al-Khali.
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