Halliburton Awarded LSTK Contracts by Aramco for Onshore Oil Re-Entry Program
Halliburton Awarded LSTK Contracts by Aramco for Onshore Oil Re-Entry Program
Halliburton (NYSE: HAL) was awarded lump sum turnkey (LSTK) contracts by Aramco in multiple onshore fields in the Kingdom of Saudi Arabia. The awards expand Halliburton’s role in the program and demonstrate the Company’s ability to grow through integrated well delivery at scale.
The multi-year contracts encompass approximately 285 planned wells. Halliburton will deliver a fully integrated execution model that includes oil re-entry operations, drilling, completions, and workovers. The integrated approach supports maximum asset value through operational consistency and timely well delivery and helps advance Aramco’s objectives to maintain efficiency in its onshore portfolio.
“These awards mark a significant milestone for Halliburton in the Kingdom and strengthen the Company’s position for future growth under the program,” said Rami Yassine, president, Eastern Hemisphere, Halliburton. “The scope reflects the strength of our drilling technology and our proven ability to efficiently execute complex, highly integrated operations. The program supports close collaboration with Aramco and applies Halliburton’s integrated services and technologies to deliver strong performance and lower drilling and completion costs across onshore development.”
The contracts include a three-year base term, with options to extend for up to two additional years. Halliburton will execute the program with a focus on safety, quality, and disciplined execution, in alignment with Aramco’s operational standards.
ABOUT HALLIBURTON
Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com; connect with us on LinkedIn, YouTube, Instagram, and Facebook.
For Investors:
David Coleman
investors@halliburton.com
281-871-2688
For Media Relations:
Alexandra Franceschi
pr@halliburton.com
281-871-3602
View source version on businesswire.com: https://www.businesswire.com/news/home/20260716942138/en/
The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
3 Stocks to Sell and 3 Stocks to Buy for September
September Stock Market Outlook: How to Position Your Portfolio During a Risky Stage
Worried About a Stock Market Bubble? Here Are 5 Ways to Stay Invested
TIPS Look Tempting. Should You Buy?
United States