Halliburtun Awarded $270 Million Contract To Provide Testing Service To Petrobras

HOUSTON - Halliburton’s (NYSE: HAL) Completion and Production division has been awarded a four-year contract valued at more than (USD) $270 million by Petrobras Brazil. Halliburton will be working jointly with Expro to provide exploration and development testing services in high pressure, high temperature (HP/HT) and deepwater environments. The work will be done throughout Brazil and serviced from Halliburton operations in Macaé in southern Brazil and Mossoró in northern Brazil to optimize provision efficiencies.

Under this contract Halliburton is providing all services related to reservoir information for land-based and offshore Petrobras projects. The testing operations to be performed include provision of standard-bore and large-bore drillstem testing tools. Expro is providing ocean floor packages and surface testing equipment.

“This contract is a continuation of Halliburton’s reservoir testing preferred service provider status with Petrobras,” said Jerry Wauters, a vice president within Halliburton’s Completion and Production division. “Together, Halliburton and Expro have had the opportunity to demonstrate our strong commitment to Petrobras for a number of years while providing our leading testing technology and working with them on exploratory prospects in challenging HP/HT and deepwater offshore environments.”

Greg Hoenes, director, Western Hemisphere, Expro, said: “The strength of the combined effort between Halliburton and Expro is validated by this contract. Our subsea landing strings and safety systems, high-endurance chokes, and expert onsite analysis capabilities combined with Halliburton’s integrated approach to reservoir testing and analysis means Petrobras will benefit from properly characterized reservoirs and booking the value of their assets with confidence.”

Expro is a leading provider of services and products that measure, improve, control and process flow from high-value oil and gas wells. Through Expro’s global and regional operations, operators benefit from the expertise and reliability of Expro’s global and regional operations representing years of experience in the industry. Expro products, services and technology in Well Testing and Commissioning, Production Systems, Wireline Intervention, Drilling Chokes and Connectors & Measurements helps ensure Expro remains a trusted partner for even the most demanding well flow management needs. Visit the company’s web sit at www.exprogroup.com.

Founded in 1919, Halliburton is one of the world’s largest providers of products and services to the energy industry. With nearly 50,000 employees in approximately 70 countries, the company serves the upstream oil and gas industry throughout the life cycle of the reservoir-from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit the company’s World Wide Web site at www.halliburton.com.