Halliburton Opens First Oilfield Specialty Chemical Manufacturing Reaction Facility in Saudi Arabia

Rhea-AI Summary

Halliburton Company (NYSE: HAL) has inaugurated its first chemical reaction plant in Saudi Arabia, enhancing its manufacturing capabilities in the region. This facility will produce a wide range of specialty chemicals for the oil and gas industry and other sectors, supporting Halliburton’s commitment of over $1 billion to Saudi Arabia over the past decade. The plant aims to boost local supply chain partnerships and advance research in oilfield stimulation and industrial water treatment, further integrating Halliburton into the Kingdom's downstream initiatives.

Positive

• Inauguration of the first chemical reaction plant in Saudi Arabia enhances Halliburton's regional manufacturing capabilities.
• The investment supports Halliburton's commitment of over $1 billion to Saudi Arabia, boosting local economic opportunities.
• The facility is expected to expand Halliburton's research and applications for oilfield stimulation and industrial water treatment.

Negative

• None.

Facility accelerates the production of next generation specialty chemical solutions and supports in-Kingdom innovation

HOUSTON--(BUSINESS WIRE)-- Halliburton Company (NYSE: HAL) today celebrated the opening of the Halliburton Chemical Reaction Plant – the first of its kind in Saudi Arabia to manufacture a broad range of chemicals for the entire oil and gas value chain as well as many other industries. The facility expands Halliburton’s manufacturing footprint in the Eastern Hemisphere and strengthens and accelerates its ability to serve the chemical needs of Middle East customers.

Halliburton formally opens its chemical reaction plant with a ribbon cutting including: Saudi Aramco Vice President of Unconventional Resources, Khalid Al-Abdulqader; Saudi Aramco Vice President of Procurement and Supply Chain Management, Mohammad Al Shammary; Royal Commission CEO, Dr. Ahmed Al-Hussain; Halliburton Chairman, President and CEO, Jeff Miller; Saudi Aramco Senior Vice President of Upstream, Nasir Al-Naimi; Sadara Chemical Company CEO, Dr. Faisal Al-Faqeer; Saudi Aramco Executive Director of Petroleum Engineering & Development, Waleed Al-Mulhim; Saudi Aramco Vice President of Drilling & Workover AbdulHameed Al-Rushaid. (Photo: Business Wire)

“We are excited to complete this significant investment and to deliver our chemical applications expertise to our Eastern Hemisphere customers,” said Jeff Miller, chairman, president, and CEO. “This world-class plant is part of our more than $1 billion commitment to Saudi Arabia over the past ten years. It further increases our in-country presence and supports the In Kingdom Total Value Add program by providing new opportunities to local suppliers, vendors, other manufacturing partners, and the local workforce.”

In addition to manufacturing, the facility allows Halliburton to expand its specialty chemicals research and applications for oilfield stimulation and production. Also, Halliburton now can better serve the region’s industrial water and process treatment markets, including refineries, petrochemical plants, and other heavy industrial operations.

“The new downstream industries envisioned for PlasChem Park are vital for the future of the Kingdom’s chemicals and petrochemicals industry. The inauguration of the Halliburton Chemical Reaction Plant, along with the upcoming projects, will help realize the Kingdom’s Downstream Initiative, combining global expertise with the special chemicals that Sadara produces, for the benefit of local, regional and global markets,” said Sadara Chemical CEO Dr. Faisal Al-Faqeer.

The facility opens contract manufacturing and tolling opportunities to support Saudi agriculture, mining, personal care and other industries. Located at the PlasChem Park in Jubail, the plant advances Halliburton’s growing presence and commitment to provide enhanced research and development and technical solutions to the local market.

PHOTO CAPTION: Halliburton formally opens its chemical reaction plant with a ribbon cutting including: Saudi Aramco Vice President of Unconventional Resources, Khalid Al-Abdulqader; Saudi Aramco Vice President of Procurement and Supply Chain Management, Mohammad Al Shammary; Royal Commission CEO, Dr. Ahmed Al-Hussain; Halliburton Chairman, President and CEO, Jeff Miller; Saudi Aramco Senior Vice President of Upstream, Nasir Al-Naimi; Sadara Chemical Company CEO, Dr. Faisal Al-Faqeer; Saudi Aramco Executive Director of Petroleum Engineering & Development, Waleed Al-Mulhim; Saudi Aramco Vice President of Drilling & Workover AbdulHameed Al-Rushaid.

ABOUT HALLIBURTON

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 130 nationalities in more than 70 countries, the Company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the Company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220301006093/en/

For Investors:

David Coleman

Investor Relations

investors@halliburton.com

281-871-2688

For News Media:

Emily Mir

External Affairs

pr@halliburton.com

281-871-2601

Source: Halliburton Company

FAQ

What is the significance of Halliburton's new chemical reaction plant in Saudi Arabia?

The new plant enhances Halliburton's manufacturing capabilities and supports local supply chain partnerships in the oil and gas industry.

How much has Halliburton invested in Saudi Arabia?

Halliburton has committed over $1 billion to Saudi Arabia over the past decade.

What types of chemicals will Halliburton's plant produce?

The plant will produce specialty chemicals for the oil and gas industry and other sectors.

Where is Halliburton's chemical reaction plant located?

The facility is located at PlasChem Park in Jubail, Saudi Arabia.

How will the new plant impact local industries?

It will create new opportunities for local suppliers, vendors, and enhance the local workforce through contract manufacturing.