Halliburton Received 5 Year Contract To Drill In Ghawar Field (HAL)

11/6/2009 - Halliburton Co. (NYSE:HAL) said Friday that it received a contract to drill and complete oil wells in Saudi Arabia's Ghawar field. According to the company, Ghawar field is the world's largest oil field. The five-year project would involve work in Uthmaniyah, Haradh, Hawiyah, and Shedgum and is expected to use three to four rigs. The project will involve 153 to 185 oil production, water injection, and evaluation wells. Halliburton's Middle East and North Africa regional vice president Gasser Badrashini said, "This award builds on the success we delivered on the Khurais mega-project, reflecting our leading technologies and solid performance."

Write to Chip Brian at cbrian@tradethetrend.com

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