Saudi Aramco, US Halliburton sign unconventional gas contract

RIYADH, Saudi Arabia’s Aramco signed an unconventional gas contract with US Halliburton on Sunday, within the Saudi company’s efforts aiming to develop unconventional resources in the Kingdom.

In a press statement, Aramco said the contract aimed to provide raw materials required to the development of chemicals sector and push ahead with economic development in line with the Saudi “2030” vision and the national 2020 transformation program.

The new contract deal will produce qualified professional cadres and equipment to implement services, which include hydraulic fracturing and supportive work.

Aramco’s president Ameen Al-Nasser said that the company is expanding its activities in several vital fields, including investment in unconventional gas and developing its resources.

He added that Aramco is currently moving to a new and key phase of such works. The contract signed with Halliburton will help Aramco achieve qualitative leaps in this new phase in line with the company’s goal of expanding its gas business with high efficiency to live up to the best operating standards in the world, he noted.

He stressed that unconventional gas resources undoubtedly are a vital element of Saudi Arabia as a country of clean energy source.

The contract was signed by Al-Nasser and CEO of Halliburton Jeffrey Miller. It targets the development of three areas across the Kingdom.

Aramco is an integrated global petroleum company in the world in the chemicals and energy fields. It produces one oil barrel out of eight produced across the globe.

Source: Kuwait News Agency