Offshore Intervention and P&A Contract in Brazil Awarded to Halliburton
Halliburton (NYSE: HAL) has secured a significant multi-year contract with Petrobras for integrated well interventions and plug and abandonment services in offshore Brazil. The contract, set to commence in Q2 2025, encompasses a comprehensive range of services including fluids, completion equipment, wireline, slickline, flowback services, and coiled tubing. Halliburton will coordinate these services through its project management service line to ensure efficient execution.
This agreement covers nearly two-thirds of all interventions and plug and abandonment work for Petrobras, solidifying Halliburton's strategic position in the Brazilian market. CEO Jeff Miller emphasized the company's ability to engineer solutions that maximize asset value for Petrobras, highlighting Halliburton's offshore well intervention capabilities in optimizing production, extending well life, reducing costs, and accessing challenging reserves.
Halliburton (NYSE: HAL) ha ottenuto un importante contratto pluriennale con Petrobras per interventi integrati sui pozzi e servizi di plug and abandonment in Brasile offshore. Il contratto, previsto per iniziare nel Q2 del 2025, comprende un'ampia gamma di servizi tra cui fluidi, attrezzature per completamento, wireline, slickline, servizi di flowback e tubing coiled. Halliburton coordinerà questi servizi attraverso la sua linea di servizi di gestione progetti per garantire un'esecuzione efficiente.
Questo accordo copre quasi due terzi di tutti gli interventi e il lavoro di plug and abandonment per Petrobras, consolidando la posizione strategica di Halliburton nel mercato brasiliano. Il CEO Jeff Miller ha sottolineato la capacità dell'azienda di ingegnerizzare soluzioni che massimizzano il valore degli asset per Petrobras, evidenziando le capacità di Halliburton negli interventi offshore sui pozzi per ottimizzare la produzione, prolungare la vita dei pozzi, ridurre i costi e accedere a riserve difficili.
Halliburton (NYSE: HAL) ha obtenido un importante contrato multi-anual con Petrobras para intervenciones integradas en pozos y servicios de plug and abandonment en Brasil offshore. El contrato, programado para iniciar en el segundo trimestre de 2025, abarca una amplia gama de servicios, incluidos fluidos, equipos de finalización, wireline, slickline, servicios de flowback y tubing coiled. Halliburton coordinará estos servicios a través de su línea de servicio de gestión de proyectos para asegurar una ejecución eficiente.
Este acuerdo cubre casi dos tercios de todas las intervenciones y el trabajo de plug and abandonment para Petrobras, consolidando la posición estratégica de Halliburton en el mercado brasileño. El CEO Jeff Miller enfatizó la capacidad de la empresa para diseñar soluciones que maximizan el valor de los activos para Petrobras, destacando las capacidades de intervención en pozos offshore de Halliburton en la optimización de la producción, la prolongación de la vida útil de los pozos, la reducción de costos y el acceso a reservas desafiantes.
Halliburton (NYSE: HAL)은 브라질 해양에서 통합 우물 개입 및 플러그 앤드 어밴던먼트 서비스를 위해 Petrobras와 상당한 다년 계약을 체결했습니다. 2025년 2분기부터 시작될 예정인 이 계약은 유체, 완공 장비, 와이어라인, 슬릭라인, 플로우백 서비스 및 코일 튜빙 등 포괄적인 범위의 서비스를 포함합니다. Halliburton은 효율적인 실행을 보장하기 위해 프로젝트 관리 서비스 라인을 통해 이러한 서비스를 조정합니다.
이 계약은 Petrobras를 위한 모든 개입 및 플러그 앤드 어밴던먼트 작업의 거의 두 번째 중 두 번째를 다루고 있으며, 브라질 시장에서 Halliburton의 전략적 위치를 확고히 합니다. CEO 제프 밀러는 Petrobras의 자산 가치를 극대화하는 솔루션을 설계할 수 있는 Halliburton의 능력을 강조하며, 생산 최적화, 우물 수명 연장, 비용 절감 및 어려운 매장량 접근을 위한 Halliburton의 해양 우물 개입 능력을 강조했습니다.
Halliburton (NYSE: HAL) a sécurisé un important contrat pluriannuel avec Petrobras pour des interventions intégrées de puits et des services de plug and abandonment au large du Brésil. Le contrat, qui doit débuter au deuxième trimestre 2025, englobe une large gamme de services, y compris les fluides, les équipements de finalisation, le wireline, le slickline, les services de flowback et le tubing enroulé. Halliburton coordonnera ces services à travers sa ligne de services de gestion de projets pour garantir une exécution efficace.
Ce contrat couvre presque deux tiers de toutes les interventions et du travail de plug and abandonment pour Petrobras, consolidant ainsi la position stratégique de Halliburton sur le marché brésilien. Le PDG Jeff Miller a souligné la capacité de l'entreprise à concevoir des solutions qui maximisent la valeur des actifs pour Petrobras, mettant en évidence les capacités d'intervention de puits offshore de Halliburton pour optimiser la production, prolonger la durée de vie des puits, réduire les coûts et accéder à des réserves difficiles.
Halliburton (NYSE: HAL) hat einen bedeutenden Mehrjahresvertrag mit Petrobras für integrierte Brunneninterventionen und Plug-and-Abandonment-Dienste in den Gewässern Brasiliens gesichert. Der Vertrag, der im zweiten Quartal 2025 beginnen soll, umfasst ein umfassendes Spektrum an Dienstleistungen, einschließlich Flüssigkeiten, Abschlussausstattung, Wireline, Slickline, Flowback-Dienste und Coiled Tubing. Halliburton wird diese Dienstleistungen über seine Projektmanagement-Service-Linie koordinieren, um eine effiziente Ausführung sicherzustellen.
Diese Vereinbarung umfasst nahezu zwei Drittel aller Interventionen und Plug-and-Abandonment-Arbeiten für Petrobras, wodurch die strategische Position von Halliburton auf dem brasilianischen Markt gefestigt wird. CEO Jeff Miller betonte die Fähigkeit des Unternehmens, Lösungen zu entwickeln, die den Wert der Vermögenswerte von Petrobras maximieren, und hob die Offshore-Brunneninterventionsfähigkeiten von Halliburton zur Optimierung der Produktion, Verlängerung der Lebensdauer von Brunnen, Kostensenkung und dem Zugang zu schwierigen Lagerstätten hervor.
- Secured multi-year contract with Petrobras for offshore well services in Brazil
- Contract covers nearly two-thirds of Petrobras' interventions and plug and abandonment work
- Strengthens Halliburton's strategic position in the Brazilian market
- Demonstrates long-standing relationship and collaboration with Petrobras
- Contract execution not set to begin until Q2 2025
Insights
This contract with Petrobras is a significant win for Halliburton, potentially boosting its revenue and market share in Brazil. The multi-year agreement, covering nearly two-thirds of Petrobras' intervention and P&A work, signals a substantial volume of business. While specific financial figures aren't disclosed, the contract's scope suggests it could be worth
Investors should note the contract's start date in Q2 2025, indicating a delayed impact on Halliburton's financials. This future revenue stream enhances the company's long-term outlook and provides visibility for future earnings. The integrated service approach could also lead to improved margins through operational efficiencies.
However, the lack of concrete financial details and the delayed start date may temper immediate market reaction. Investors should monitor Halliburton's upcoming earnings calls for more specific guidance on the contract's financial impact.
This contract underscores Halliburton's strong position in offshore services, particularly in well intervention and plug and abandonment (P&A) operations. The comprehensive service package demonstrates Halliburton's technical capabilities and integrated approach, which are increasingly valued in the offshore sector.
The focus on well interventions and P&A is noteworthy, reflecting the maturing nature of Brazil's offshore fields. As fields age, operators like Petrobras need to optimize production from existing wells and properly decommission non-productive ones. This trend is likely to continue, potentially opening up similar opportunities for Halliburton in other maturing offshore basins globally.
The contract also highlights the growing importance of project management in complex offshore operations. Halliburton's ability to coordinate various services efficiently could be a key differentiator in winning future contracts.
This contract win strengthens Halliburton's market position in Brazil, a key growth market for offshore oil and gas services. By securing a significant portion of Petrobras' intervention and P&A work, Halliburton gains a competitive edge over rivals in the region.
The timing is strategic, aligning with the expected recovery and growth in offshore spending. As oil prices stabilize and offshore activity increases, Halliburton is well-positioned to capitalize on this trend. The contract's start in 2025 suggests confidence in the long-term outlook for offshore services.
Investors should consider the potential for similar contracts in other regions as Halliburton leverages this experience. The company's integrated service model could be particularly attractive to national oil companies and major operators looking to streamline their offshore operations and reduce costs.
Under the agreement’s terms, Halliburton will provide a wide range of services to include fluids, completion equipment, wireline, slickline, flowback services, and coiled tubing. We will integrate and coordinate these services through Halliburton’s project management service line to ensure efficient and effective execution.
“Our long-standing relationship with Petrobras exemplifies our ability to collaborate and engineer solutions to maximize their asset value,” said Halliburton Chairman, President, and CEO Jeff Miller. “Halliburton’s offshore well intervention capabilities optimize production, extend well life, reduce costs, and access challenging reserves.”
This contract, which covers nearly two-thirds of all interventions and plug and abandonment work for Petrobras, reinforces Halliburton’s strategic position in the Brazilian market.
About Halliburton
Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Connect with Halliburton on Facebook, LinkedIn, Instagram and YouTube.
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Media Relations
Victoria Ingalls
PR@Halliburton.com
281-871-2601
Source: Halliburton
FAQ
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