Shell Malaysia - E&P Awards Halliburton/Enventure GT Solid Expandable Tubular Contract.

Energy Editors/Business Editors/High-Tech Writers

HOUSTON--(BUSINESS WIRE)--March 3, 2003

Halliburton Energy Services (Malaysia) Sdn Bhd, an incorporated entity of Halliburton (NYSE:HAL) in Malaysia, announced the award of a multi-million dollar contract from Shell Malaysia E&P (SMEP) to supply Enventure Global Technology Solid Expandable Tubular (SET(TM)) Equipment and Services for their Malaysian operations. The contract spans a two-year period, with an option to extend another year.

This long-term contract for the supply of SET Equipment and Services was officially signed between Hee Len Hi of SMEP and Rao Abdullah of Halliburton Energy Services (Malaysia) Sdn Bhd recently in Lutong, Sarawak.

"We are pleased to have been awarded this long term contract from SMEP," said Abdullah. "The award further proves SSB's recognition of Enventure's capabilities in providing advanced tubular technologies. Our technologies address numerous drilling and completion challenges and can especially enhance deepwater operations, one of the industry's highest priorities."

"SMEP plans to use this contract for the deployment of SET Systems and the MonoDiameter(TM) System, which is not currently available in the market," said Hee. "There may be five wells on the horizon for expandable 13Cr Cased-Hole Liner (CHL(TM)) applications if the first one, to be run this October, proves successful. We intend to use this revolutionary SET Technology to drill deeper wells and reach the target zone with confidence. Plans have also been made to run solid expandable tubulars to line the production conduit to increase well flow capacity. We are very confident in Halliburton/Enventure's capabilities and are certainly looking forward to drilling deeper with this new technology."

SET Systems allow for a more simplified and capable drilling process and enable operators to reach production zones faster, cheaper, and safer. Slimming down tubulars at the top of the well results in operators being able to downsize drilling equipment, which dramatically minimizes the environmental impact from emissions and waste while cutting the operator's drilling cost.

To date, Enventure has performed 125 installations and expanded more than 122,000 feet of pipe and 3,150 connections for 38 operators globally. Enventure Global Technology, L.L.C., the world's leading provider of solid expandable tubular solutions, is a limited liability company organized and owned by Halliburton Energy Services, a business unit of Halliburton, and Shell Technology Ventures Inc. For more information, go to www.EnventureGT.com.

Halliburton, founded in 1919, is one of the world's largest providers of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services Group and Engineering and Construction Group business segments. The company's World Wide Web site can be accessed at www.halliburton.com.