Halliburton Wins Landmark Offshore Drilling Contract With Petrobras

(RTTNews) - Halliburton (HAL), a Texas-based oilfield services company, Wednesday announced that it has secured a contract from Petrobras to provide integrated drilling services across multiple offshore fields in Brazil.

Awarded through a competitive process, the contract covers drilling operations for both development and exploration wells over a three-year term.

Set to commence in 2025, this contract marks Halliburton's largest service agreement with Petrobras. It significantly strengthens Halliburton's presence in the pre-salt and post-salt regions, expanding its drilling services for both development and exploration wells.

Under this contract, Halliburton will deploy its iCruise intelligent rotary steerable system or RSS to optimize well placement and reduce drilling time. Additionally, the company will utilize its LOGIX automation and remote operations platform to enhance well construction consistency and performance. Halliburton will also leverage its EarthStar ultra-deep resistivity service to accurately position production boreholes and map reservoirs.

The company will implement its BaraLogix real-time service, to overcome the technical challenges of drilling fluids in offshore environments. This solution leverages advanced hydraulic software, surface measurement automation, and predictive analytics to minimize lost time and enhance operational efficiency.

HAL will also deploy exclusive technologies like Cerebro® in-bit sensing and introduce cutting-edge solutions such as the Reservoir Xaminer formation testing service. This service identifies structural reservoir complexities, enabling more informed decision-making in drilling, completion, and production.

HAL is currently trading at $26.43 or 0.23% on the New York Stock Exchange.