State-owned oil company Saudi Arabian Oil Co., or Saudi Aramco, signed a contract with Houston-based Halliburton Co. for unconventional gas stimulation services such as hydraulic fracturing and well intervention operations.
The three-year contract, which includes a two-year base contract and a one-year extension option, is part of Saudi Aramco efforts to improve the economics of its unconventional resources program, which puts an emphasis on unconventional gas as an important clean energy source for the future of Saudi Arabia. The unconventional resources program spans three areas of Saudi Arabia: North Arabia, South Ghawar and Jafurah/Rub’ Al-Khali.
Halliburton, one of the world's largest providers of products and services to the energy industry, said it will use an integrated approach to support Saudi Aramco's increased recovery. The company, in a May 27 news release, said it will provide project management, hydraulic fracturing, coiled tubing, wireline and perforating, completion tools and testing services.
Saudi Aramco executives expects work to begin in June.
