Saudi Aramco Pres. and Chief Executive Officer Amin H. Nasser called an “unconventional gas stimulation services contract” signed May 27 with Halliburton “the important next phase of achieving our gas expansion objectives.”
Saudi Arabia’s Unconventional Resources Program, launched in 2013, aims at boosting gas production to meet domestic needs, displace crude oil in power generation, supply feedstock for petrochemicals, and stimulate regional economies.
The lump-sum turnkey Halliburton contract includes hydraulic fracturing and well-intervention services described in an Aramco release as “major.” The contract has a 2-year term with an option for a 1-year extension.
The companies didn’t specify well numbers or production targets.
Aramco’s program covers northern Saudi Arabia, South Ghawar, and the Jafurah basin.