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Shell awards contract to Halliburton for offshore project in Brazil

 

Royal Dutch Shell has awarded a three-year contract to Houston oilfield service company Halliburton to explore and develop two projects off the coast of Brazil.

The projects are located in Brazil's Campos and Santos Basins. The Campos Basin is 90 miles off the coast of the State of Campos while the Santos Basin is about 140 miles southeast of Sao Paulo.

Under the contract, Halliburton will provide drilling service. The deal includes an option for a two-year extension.

"Our integrated services model is designed to help accelerate new field development, reduce drilling and completion costs and increase recovery through the utilization of our innovative technologies and basin insight," Halliburton Vice President of Brazil Anouar Fraija said in a statement. "We are excited to win this award and collaborate with Shell to deliver integrated solutions that maximize their asset value."

A vibrant nation of more than 209 million people, Brazil holds nearly unlimited natural resources that include large reserves of oil and natural gas.

Halliburton has had a presence in the South American nation for decades and maintains a technology center in Rio de Janeiro. The center specializes in deepwater technology and training.

Founded in 1919 and headquartered in Houston, Halliburton employs more than 60,000 people in 80 nations.

The company reported a $1.66 billion profit on $24 billion of revenue during 2018.

Source: Chron

Published: 18-04-2019
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