Halliburton, Petronas in shale deal

Standing tall: Halliburtong and Petronas to share shale knowledge

Halliburton and Petronas Carigali have signed a framework agreement to evaluate and develop shale resources around the world.

Under the agreement, Halliburton will work with Petronas to set up a Shale Technical Centre of Excellence in Kuala Lumpur, where the Malaysian giant is based.

The collaboration will let Petronas tap in to Halliburton’s expertise in developing shale in North America and elsewhere.

Last year, Petronas entered into a $1.1 billion joint venture with Canada’s Progress Energy Resources to develop the Montney shale in northern British Columbia.

Halliburton is “aggressively expanding its global infrastructure to support shale development outside of North America”, the company said in a release.

“One of the cornerstones of Halliburton’s strategy is to maintain leadership in unconventional plays,” said Jeff Miller, Halliburton’s senior vice president of global business development and marketing.

“Expanding into the Asia Pacific market and providing the same quality level of service we already provide in North America fits into that strategy.”

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