Oil
Search, Halliburton and KBR sign unique agreement
Posted: 27 May 2004
Oil Search Limited signed an agreement to form a strategic alliance
with Halliburton and its subsidiary KBR. This alliance represents
a unique arrangement between an independent operator and a major
oil and gas contractor.
Halliburton and KBR will offer a range of services including subsurface
oilfield services, development planning, engineering, construction,
production and maintenance support to Oil Search’s operations
in Papua, New Guinea, where Oil Search is the industry leader in
oil and gas exploration and development.
Oil Search Managing Director Peter Botten, who signed the alliance
agreement with Halliburton ESG Vice President for Asia Pacific,
Chas Charles, and KBR Senior Vice President for Asia Pacific, Andrew
Fletcher, in Sydney on Tuesday, May 25 sees the companies as an
excellent fit.
“This is unique – the scope of activities that can
be included under the alliance covers everything from reservoir
planning and well construction services to field operations and
maintenance and project development. It’s also got the potential
to move beyond Papua, New Guinea to Oil Search operations in other
parts of the world,” Mr Botten said.
Mr. Charles echoed Mr. Botten’s enthusiasm.
“Building on a successful business relationship spanning
a number of years, the Oil Search, Halliburton and KBR alliance
recognises the mutual benefits we can achieve by forming a strategic
working relationship to develop and grow a combined interest in
oil and gas production in PNG and internationally,” Mr. Charles
said.
“The alliance will be managed by an integrated team comprising
experienced, motivated and culturally aligned employees from the
alliance parties – I am confident it will achieve and even
exceed the expectation of stakeholders.”
Mr. Fletcher said the alliance was a great opportunity for all
three companies to grow and prosper.
“Halliburton and KBR are able to offer Oil Search an integrated
cradle to grave service - from oil and gas prospect evaluation,
through development into long term field operations support,”
he said.
“Our commitment is to do so in a safe, environmentally friendly
and cost-effective manner, drawing on the best people for the task
from each alliance member - we will be looking for innovation and
elimination of inefficiencies.
“We’re delighted to be working with Oil Search, a company
that has made a great contribution.”
The concept of the alliance developed out of Halliburton’s
long participation in Papua, New Guinea as a traditional oilfield
service provider through its Energy Services Group (ESG). It now
encompasses Halliburton’s engineering and construction group
(KBR) in a much closer relationship with Oil Search.
Background
Oil Search Limited is an oil and gas exploration and development
company that has been operating in Papua New Guinea since 1929.
It is listed on the Australian and Port Moresby Stock Exchanges,
and trades in the US through the ADR market. It owns approximately
70 per cent of Papua New Guinea’s oil reserves and over 50
per cent of gas reserves in the Highlands Gas Project. Oil Search
recently took over as operator of the country’s producing
oil fields from ChevronTexaco and has exploration licences in Western
Australia, Yemen and Egypt.
The company’s web site is www.oilsearch.com
Halliburton, founded in 1919, is one of the world's largest providers
of products and services to the petroleum and energy industries.
The company serves its customers with a broad range of products
and services through its Energy Services and Engineering and Construction
groups.
The company's web site is www.halliburton.com
Posted by Richard Price,
Editor Pipeline Magazine
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