Halliburton Co. (HAL) said Tuesday it scored a $190 million oil services contract with Brazilian state oil giant Petroleo Brasileiro S.A. (PBR).

The Houston-based company will provide Petrobras with drilling fluid, completion fluid and drilling waste management services in the Brazilian offshore, where some of the world's most promising oil and gas discoveries lay.

The five-year agreement is expected to begin in the third quarter of 2009. Halliburton, the world's second-largest oilfield services company by revenue after Schlumberger Ltd. (SLB), said Monday during an earnings call that it hoped for a quicker-than-expected rebound of international business in the wake of higher oil prices.

Petrobras seems to be forging ahead with its ambitious development programs: On Monday, deepwater drilling rig contractor Transocean (RIG) announced a three-year pact with the Brazilian firm worth an estimated $558.5 million.

-By Angel Gonzalez, Dow Jones Newswires; 713-547-9214; angel.gonzalez@dowjones.com

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