One of the largest oilfield service providers,
) has entered a technological co-operation agreement with Russia
based oil firm, Gazprom Neft, to improve field efficiency of the
The collaboration includes information exchange whereby the
Russian partner will offer data on implementation and Halliburton
experts will provide technological solutions. The agreement is
expected to offer solutions for hard-to-recover reserves,
unconventional resources, deepwater and other projects.
By 2020, Gazprom Neft, an integrated oil company controlled by
the Russian gas behemoth OAO Gazprom, plans to increase its
annual hydrocarbon production to 100 million metric tons of oil
equivalent to compensate the dwindling output of the Soviet-era
fields. Management believes that use of new technologies will
contribute more than half of the said production levels.
Halliburton believes in enhancing its capabilities and providing
efficient solutions to its customers. Accordingly, this
Houston-based oilfield service provider invests substantially in
research and development for new technologies related to
exploration and production of hydrocarbons.
Established in 1919, Halliburton offers a variety of equipment,
maintenance and engineering and construction services to the
energy, industrial and government sectors. The company operates
under two main segments: Completion and Production and Drilling
Halliburton currently holds a Zacks Rank #3 (Hold), implying that
it is expected to perform in line with the broader U.S. equity
market over the next one to three months.
Meanwhile, one can look at other stocks in the oil field
services industry such as
Emerge Energy Services LP Commo
Gulfmark Offshore, Inc.
) as good buying options. All these stocks currently hold a Zacks
Rank #2 (Buy).
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