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Halliburton wins Saudi Aramco South Ghawar pact

NEW YORK - Halliburton Co was awarded a broad five-year oilfield service contract from Saudi Aramco to develop wells in the South Ghawar field, the world’s largest oil field, the company said on Friday.

Published: Fri 6 Nov 2009, 8:22 PM

Updated: Tue 3 Sep 2024, 2:27 PM

  • By
  • (Reuters)

Halliburton did not release financial terms of the deal, which includes an option for a five-year extension.

The company, based in Houston and Dubai, will provide Aramco with “turnkey” services, which means the wells will be built so that no additional work will be required by Aramco.


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The project is expected to use three to four rigs to develop between 153 and 185 oil production, water injection and evaluation wells.

Halliburton said the contract is Aramco’s first-ever integrated turnkey drilling award, as part of a strategy to increase collaboration with major oilfield service providers.

Shares in Halliburton rose 1.1 percent in premarket trade to $30.90 per share.




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