abce certificate
Tuesday, 02 December, 2008, 04:10 GMT | more >>

Halliburton ‘to buy into Gulf players’



By Upstream staff 

US oilfield services giant Halliburton is seeking stakes in emerging companies in the Persian Gulf to expand its operations in the region, a regional newspaper reported today.

US oilfield services giant Halliburton is seeking stakes in emerging companies in the Persian Gulf to expand its operations in the region, a regional newspaper reported today.

"The American company is studying the chance to buy stakes in emerging oil companies in the Gulf to boost its exploration operations in those companies' exclusive areas," Reuters reported the pan-Arab daily Asharq al-Awsat said.

The daily, citing unidentified sources, did not name the potential companies or countries of interest to the company.

Halliburton is setting up a new corporate headquarters in Dubai in a bid to refocus its business on the oil and gas services market outside the Americas.

Halliburton chief Dave Lesar said in May that 70% of the company's potential market was outside of the Americas. He also said the company was looking for major investors to take a stake in Halliburton as it looks to expand.


Monday, 24 September, 2007, 16:03 GMT  | last updated: Tuesday, 25 September, 2007, 11:42 GMT

e-mail this article to a colleague


to email:  from:
comments: