WASHINGTON Ñ A leading U.S. defense firm has won an oil service
contract in Saudi Arabia.
Halliburton has been awarded a five-year oil field service contract from
the state-owned Saudi Aramco.
The U.S. firm, based in Houston as well as the United Arab Emirates,
said it would develop wells in Saudi Arabia's South Ghawar field.
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Executives said Halliburton would oversee the digging of well as well as
services in South Ghawar, the largest oil field in the world. They said the
contract, expected to employ up to four rigs, includes an option for a
five-year extension.
The contract marked the first turnkey srilling project awarded by
Aramco.
Executives said the turnkey project marked a new strategy by Aramco
to increase the efficiency of energy facilities.
Comments
I am not aware of Halliburton having any significant "defense contracts." They are a significant oil services firm and that is why they got the Saudi Contract. KBR, a former unit of Halliburton that completely broke off in 2007 is a defense contractor.
Randy Miller
6:54 p.m. / Monday, December 14, 2009
