Halliburton will execute an integrated drilling, completion, workover and re-entry program across several of Aramco’s onshore fields.
Halliburton secured multi-year, lump-sum turnkey contracts, known as LSTKs, to develop operations in several of Aramco’s onshore fields in Saudi Arabia. The scope encompasses approximately 285 planned wells and expands the U.S. company’s involvement in the Saudi producer’s oil re-entry programs.
According to the announced terms, the contracts will have an initial term of three years and may be extended for an additional two years. The program will cover different stages of the wells’ operating cycle through a single implementation model.
An integrated model for drilling and completion
Specifically, Halliburton will handle drilling, completion, workover, and oil re-entry activities. The company will coordinate these tasks under an integrated structure designed to maintain continuity between planning, intervention, and final handover of each well.
Furthermore, this model aims to reduce variations during execution and facilitate adherence to schedules. The integration of services will also allow for the application of drilling and completion technologies within a common framework for the various fields included in the contracts.
Aramco, for its part, expects the program to help maintain the efficiency of its onshore asset portfolio. The Saudi oil company maintains large-scale operations in the country and requires consistent implementation to manage the performance of its fields.
The contracts prioritize safety and operational discipline
Halliburton also indicated that safety, quality, and operational discipline will be central to the project’s execution. The work must comply with the technical and operational standards established by Aramco for its onshore fields.
Timely delivery of the wells will be another relevant element; by concentrating several activities in an LSTK contractual model, Halliburton will assume greater coordination over the processes and expected results within the program.
This type of contract establishes a defined scope and a global price for the agreed execution; in projects with numerous wells, the scheme can facilitate cost control, resource allocation, and coordination between technical teams.
Halliburton strengthens its presence in Saudi Arabia
Rami Yassine, Halliburton’s president for the Eastern Hemisphere, noted that the awards strengthen the company’s image within Aramco’s program and support its growth prospects in the kingdom.
The executive also highlighted the company’s ability to manage complex and highly integrated operations. According to Halliburton, the combination of services and technologies will improve performance and reduce drilling and completion costs in onshore development.
Finally, these contracts strengthen Halliburton’s presence in one of the world’s leading oil markets. The company provides services to the energy industry and develops technologies for drilling, appraisal, completion, and production of wells.
Source and photo: Halliburton
