Halliburton: Continuing Growth Momentum Into 2023

Halliburton: Continuing Growth Momentum Into 2023

/ News & Interviews / Friday, 04 November 2022 10:09

Halliburton is one of the world's largest providers of products and services to the energy industry. Founded in 1919, the company creates innovative technologies, products, and services that help customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Halliburton has been operating in the MENA region for over 75 years, and its mission in this area has been to unlock the economic potential of these assets through extended production and improved recovery.

Lance_Loeffler, senior vice president, Middle East North Africa, spoke with Energy Review during #ADIPEC2022 regarding his company’s operations in MENA, its strategic investments and the importance of a sustainable energy future.

Please give us an overview of Halliburton’s level of activity in the MENA region and what we can expect in 2023?

We continue to see activity increase throughout the region, particularly in Saudi Arabia and the UAE, and we are preparing for several startups, namely in Qatar. This year has been a great year for growth as the world recovers from COVID, and we expect the continued momentum to translate into another year of significant growth in 2023.

What has been Halliburton’s biggest challenge in this growth trajectory and how is it addressing this?

As we prepare for the expected activity ahead, it is critical that we optimize the efficiency of our tools, our people, and our processes to deliver for our customers in such a critical region of the world. Our goal is to deliver on our key strategic priority – to grow our international business profitably – while remaining capital disciplined. As activity picks up, that translates into being smarter about how we allocate tools to particular projects, tenders and customers to help them meet their goals as well as improve our returns.

In what ways is Halliburton contributing to the energy transition drive, both regionally and globally?

Another one of Halliburton’s strategic priorities is to advance a sustainable energy future – for us and our customers. We do this today through our existing core competencies to help customers reduce emissions and improve energy efficiency.

For example, we have extensive experience in subsurface insight and EOR to evaluate safe and efficient CCS subsurface storage projects. We can use those core competencies to help our customers find ways to store carbon – this is critically important as work to achieve a lower carbon energy future.  

From a technology standpoint, we just introduced our new reduced cement portfolio, NeoCem™ E+ and EnviraCem™ systems, which provide cement solutions that require less Portland cement content – reductions of more than 70% in some cases. The cement reduction helps customers lower their carbon emissions baselines and provides engineered cement systems with enhanced cement sheath performance.

I’m excited about the work that is underway – both for our customers and within Halliburton – to make meaningful gains to support our changing energy landscape.

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