May 28, 2018
Aramco, Saudi Arabia’s national petroleum and natural gas giant based in Dhahran, has signed a contract with US company Halliburton as part of the company’s efforts to develop its resources program, which covers three areas of Saudi Arabia: North Arabia, South Ghawar and Jafurah/Rub’ al-Khali (otherwise known as ‘the Empty Quarter’).
The contract signing ceremony was attended by Aramco CEO Amin H. Nasser and Halliburton CEO Jeffrey A. Miller.
The agreement reflects Aramco’s pursuit of unconventional gas to serve domestic needs and spur regional economic development in line with the Kingdom’s national transformation program Vision 2030.
“Over the past three years, Saudi Aramco has made great strides in developing our unconventional resources program, with emphasis on unconventional gas as an important clean energy source for the Kingdom’s future,” Nasser said.
“Now, with this contract formalized today with Halliburton, we enter the important next phase of achieving our gas expansion objectives,” he added.
“Halliburton has been a reliable provider of products, services and technologies to our company for many decades.”
“We welcome their expertise in unconventional resources, and we have great confidence in our joint ability to achieve operational and cost efficiencies for this important growth area.”
The contract will “further improve the economics of Saudi Aramco’s unconventional resources program”, Aramco said in a statement.