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Halliburton, Schlumberger 'Manifa winners'



By Upstream staff 

Oilfield service giants Halliburton and Schlumberger are believed to have won big drilling technology contracts for work in Saudi Aramco's Manifa oilfield, Bill Herbert, analyst with Simmons & Co, said today.

"This is one of the most widely anticipated project awards," Herbert told Reuters.

"The results of that tender have not been officially revealed, but we believe that the winners are Schlumberger and Halliburton."

The award would mean that international revenue growth would become a bit easier in 2009 for Halliburton and Schlumberger, Herbert said.

A spokesman at Schlumberger could not immediately be reached for comment and a spokeswoman at Halliburton said it is company policy not to comment on speculation.

Halliburton moved Dave Lesar, its chief executive officer, to Dubai last year in a bid to win more business in faster-growing and more profitable Eastern Hemisphere markets.

Production at Manifa, which lies off Saudi Arabia, is estimated at 900,000 barrels per day.

The Manifa development will be technically challenging, with a number of horizontal wells needed.


Thursday, 28 February, 2008, 18:10 GMT  | last updated: Thursday, 28 February, 2008, 18:13 GMT

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