Halliburton Introduces New Technology To Help Customers Extend The Life Of Their Assets
ABERDEEN, Scotland- Halliburton (NYSE:HAL) has been awarded a one-year contract (with four one-year extension options) by Shell U.K. Limited for the provision of a portable modular workover unit. The initial work contract period is for one workover and three sidetracks on the Shell Gannet platform - operations which have the potential to increase the field’s oil production. The project is due to commence in the fourth quarter of 2008.
The design of the rack-and-pinion workover unit allows it to be installed quickly on platforms that have limited crane-lift and personnel-on-board capacities. It can also be used on installations with non-serviceable, or non-existing drilling derrick sets.
The award represents a step change in the sustainable development of Shell’s mature fields. The Gannet field, for example, has significant untapped oil volumes in its thin oil rim.
Said Mike Bowyer, Halliburton’s United Kingdom country vice president: “This award underscores our belief in the continued long-term viability of the North Sea industry. Halliburton is committed to helping its customers extend the life of their assets, and the introduction of new technology, such as the modular rig, will be a key contributor in achieving this objective.”
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 web site at www.halliburton.com.
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