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Halliburton Gets $95 Million Gazprom Neft Contract In Iraq

AMMAN -(Dow Jones)- U.S.-based energy services giant Halliburton Co (HAL) has won a $95 million contract from Russian state oil producer OAO Gazprom Neft (SIBN.RS) to test and complete 11 wells at the untapped Badra oil field in eastern Iraq, the firm said in a statement Thursday. Gazprom Neft, which is a majority-owned by gas giant OAO Gazprom (GAZP.RS), said testing of the first well, is scheduled to start in the third quarter of this year. "Production will commence once the final field development plan is completed in 2013," the Russian firm said. The Gazprom consortium, which includes South Korea's Gas Corp. (036460.SE), or Kogas, Turkish Petroleum Corp., or TPAO, and Malaysia's Petronas, plans to start production from the field in 2013 and reach 170,000 barrels a day by 2017 according to a development plan agreed with the Iraqi government. Badra's reserves are estimated at about 3 billion barrels of oil. Gazprom, which owns the largest stake in the consortium at 40%, signed a contract with Baghdad to develop the field in January 2009. -By Hassan Hafidh, Dow Jones Newswires; +962 799 831 831; hassan.hafidh@dowjones.com

Stock News for Halliburton (HAL)
DateTimeHeadline
07/21/201410:05:04MARKET SNAPSHOT: U.S. Stocks Open Lower; Gaza, Russia Headlines...
07/21/201409:59:43U.S. Hot Stock Futures: Hot Stocks to Watch
07/21/201409:10:39MARKET SNAPSHOT: U.S. Stocks: Futures Fall On Gaza, Russia Headlines
07/21/201408:02:36MARKET SNAPSHOT: U.S. Stocks: Futures Drop On Gaza, Russia Headlines
07/21/201406:06:46MARKET SNAPSHOT: U.S. Stocks: Futures Dip On Gaza, Russia Headlines
07/21/201406:03:12MARKET SNAPSHOT: U.S. Stocks: Futures Dip On Israel, Russia Headlines
07/21/201403:20:37MARKET SNAPSHOT: Small Caps' Slump, Ukraine Fears May Hold Up...
06/26/201416:40:27KBR Says Appeals Board Clears Use of Private Contractors in Iraq
06/05/201415:26:56Blowout Preventer Faulted in Deepwater Horizon Spill
06/05/201415:26:44Investigators Fault Blowout Preventer in Deepwater Horizon Oil...
05/27/201419:03:27A Perk That Keeps Rising: Personal Trips on Company Jet
05/21/201419:28:10Oil Services Firms Extend $2 Billion in Credit Lines to Venezuela
04/21/201417:31:21MARKET SNAPSHOT: Stocks Rise; S&P 500 In Longest Win Streak In...
04/21/201417:20:09MARKET SNAPSHOT: U.S. Stocks Edge Up; Halliburton Rallies
04/21/201417:08:40MARKET SNAPSHOT: U.S. Stocks Pare Gains; Halliburton Rallies
04/21/201415:53:35MARKET SNAPSHOT: U.S. Stocks Rise As Results From Halliburton...
04/21/201415:02:01U.S. Hot Stocks: Hot Stocks to Watch
04/20/201406:17:33MARKET SNAPSHOT: Long View On Stocks Is Best During Weak Earnings...
02/12/201417:10:10Diamond Offshore Names Halliburton Executive Next CEO
01/21/201408:30:12Halliburton 4th-Quarter Profit Up 19%

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