Malaysia's Dialog, Halliburton in $1.2 billion oil services deal


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Malaysia's Dialog Group Bhd said it has signed an agreement with Halliburton International Inc for a contract worth $1.2 billion aimed at boosting oil output from a mature field in East Malaysia.

The agreement aims to boost recoverable reserves in the Bayan Field, located offshore Sarawak, as Malaysia tries to boost flagging production from its existing oil fields.

"This is in line with Dialog's strategy to continue developing its upstream capabilities, which include the rejuvenation and re-development of mature oil fields," Dialog said in an announcement to the Malaysian stock exchange.

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This article appears in: Investing Commodities
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