Chevron Awards Halliburton Contract For Poland Shale Gas Exploration
13 Julho 2011 - 12:49PM
Dow Jones News
Oil field-service company Halliburton Co. (HAL) said Wednesday
it earned a Chevron Corp. (CVX) contract for shale gas exploration
in Poland.
Initial shale gas exploration drilling is expected to begin in
the fourth quarter, and the contract award is for three years, with
the possibility to be extended, Halliburton said in a press
release. Chevron acquired rights to explore for shale gas in Poland
at the end of 2009.
The contract is a step toward Chevron's goal of replicating the
success of shale gas development in the U.S., where new
technologies unlocked vast new reserves of shale oil and gas and
revived the once flagging domestic energy industry. In 2009, the
U.S. surpassed Russia as the world's biggest gas producer.
Chevron's move comes at a time when demand for gas produced in
Europe is expected to grow vigorously as countries intensify
efforts to reduce their dependence on Russia as a supplier.
The services Halliburton -- the second-largest
oil-field-services company behind Schlumberger Ltd. (SLB) -- will
provide include drilling services, mud logging, cementing, coiled
tubing, well testing, completion and hydraulic fracturing, the
company said. Halliburton also will support the project with
project management services.
Chevron, the second-largest U.S. oil company by market value
after Exxon Mobil Corp. (XOM), has also acquired shale gas acreage
in Bulgaria and Romania. Other major oil companies such as Exxon
Mobil and Marathon Oil Corp. (MRO) also have exploration rights in
Poland.
-By Isabel Ordonez, Dow Jones Newswires; 713-547-9207;
isabel.ordonez@dowjones.com
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