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Aramco Awards Halliburton Contract for Saudi Unconventional Gas Project

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Saudi Aramco has awarded Halliburton (HAL) a multi-year contract to provide integrated stimulation and completion services for the development of unconventional gas resources in the kingdom, the companies said on Wednesday.

The state-owned energy major said Halliburton will provide hydraulic fracturing, completion and digital technologies across multiple unconventional plays in Saudi Arabia under an integrated service model to improve operational efficiency, execution reliability and workflow predictability.

The contract deepens the US oilfield services firm's role in Aramco's unconventional gas program, where the company already supplies a range of drilling and completion services.

The latest award comes as Saudi Arabia expands investment in natural gas to meet rising domestic demand, support industrial development and free up more crude oil for export.

Halliburton plans to deploy the Gulf state's first fully integrated intelligent hydraulic fracturing platform in Q3. The system combines its OCTIV Auto Frac automation technology with Sensori fracturing monitoring services to optimize fracturing operations in real time.

The contract includes the deployment of intelligent automation technologies designed to improve operational efficiency, reliability and digital integration across multi-well development campaigns.

Halliburton also plans to expand local manufacturing capacity and strengthen its supply chain in Saudi Arabia to support increasing activity in the Jafurah Basin, where Aramco is developing one of the world's largest unconventional gas resources.

Aramco has significantly invested in the Jafurah shale gas field as part of its strategy to increase gas production by over 60% by the end of the decade, meeting domestic energy demand while freeing up more crude oil for export.

Financial terms of the contract were not disclosed.

Price: $35.34, Change: $-0.08, Percent Change: -0.23%

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