TNK-BP Awards Halliburton $100 Million Multi-Services Contract in Russia.
HOUSTON -- Halliburton (NYSE NYSE
See: New York Stock Exchange :HAL Hal: see Halle, Belgium.
In Sufism, a state of mind reached from time to time by mystics during their journey toward God. The ahwal (plural of hal) are God-given graces that appear when a soul is purified of its attachments to the material world. ) announced today that its Energy Services Group has been awarded a multi-services contract by TNK-BP for work in the Tyumen region of Russia. Valued at approximately $100 million over three years, with the option for three additional one-year periods, the contract calls for the provision of drilling fluids, waste management services, cementing, drill bits, directional drilling Directional drilling (sometimes known as slant drilling outside the oil industry) is the science of drilling non-vertical wells. Directional drilling can be broken down into three main groups: Oilfield Directional Drilling, Utility Installation Directional Drilling (commonly and logging-while-drilling services for the Uvat development, located 600-800 kilometers northeast of the city of Tyumen.
"Halliburton has been delivering a wide variety of services to TNK-BP for a number of years, and we are proud of our record of excellent service quality, technological leadership and impeccable health, safety and environmental performance," said Simon Turton, Halliburton's country vice president for the Russian Federation Russian Federation: see Russia. . "Understanding the customer's needs, working closely with their engineers and continually seeking more effective ways to collaborate with drilling contractors has allowed us to tailor our offerings to deliver fit-for-purpose solutions and provide the expertise needed for TNK-BP to meet and exceed its business goals."
The work will enable multiple Halliburton units to introduce technologies and service offerings that are new to Russia. The company's Drilling and Formation Evaluation In petroleum exploration and development, formation evaluation is used to determine whether a potential oil or gas field is commercially viable. Essentially, it is the process of "recognizing a commercial well when you drill one". Division will provide Sperry Drilling Services' EZ-Pilot[TM] rotary steerable system A rotary steerable system is a new form of drilling technology used in directional drilling. It employs the use of specialized downhole equipment to replace conventional directional tools such as mud motors. , which provides accurate directional drilling control while allowing continuous rotation of the drillstring, and Security DBS (Direct Broadcast Satellite) A one-way TV broadcast service from a communications satellite to a small round or oval dish antenna no larger than 20" in diameter. Drill Bits' Energy Balanced[R] roller cone bits, which promote improved return on production and longer bit life, and reduce vibration levels; and the Fluid Systems Division will incorporate Baroid Surface Solutions[TM] service, which combines solids control, shale shaker screens and drilling waste management.
Since the field is located in an environmentally sensitive area An Environmentally Sensitive Area (ESA) is a type of designation for an agricultural area which needs special protection because of its landscape, wildlife or historical value. , TNK-BP's development plans include advanced well designs that require a technological step-change from conventional Western Siberia field development. The resulting benefits include minimizing the environmental impact and decreasing waste, as well as reducing personnel risk and the number of pads and wells.
The project is scheduled to start in the second quarter of 2007, with four drilling rigs operating from three "super-pads."
"This multi-year award enables us to make additional investments as part of our strategic focus on continuing to build a sustainable business in the Eastern Hemisphere," added Ahmed Lotfy, Halliburton's senior vice president for the Eastern Hemisphere.
With more than 45,000 employees in nearly 70 countries, Halliburton's Energy Services Group 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 production optimization through the life of the field.
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 KBR KBR Kellogg, Brown and Root
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KBR Koninklijke Bibliotheek van België / Bibliothèque royale de Belgique . Visit the company's Web site at www.halliburton.com.