Saudi Aramco signed the Unconventional Gas Stimulation Services contract with Halliburton to further improve the economics of Saudi Aramco’s Unconventional Resources Program.

The contract signing ceremony, which was attended by Amin H. Nasser, President and CEO of Saudi Aramco and Jeffrey A. Miller, President and CEO of Halliburton, reflects Saudi Aramco’s pursuit of unconventional gas to serve domestic needs, offset local crude burning, provide feedstock for chemical industry development, and spur regional economic development in line with Vision 2030, the Kingdom’s national transformation program.

The new agreement will provide lump sum turnkey stimulation services which include major hydraulic fracturing and well intervention operations.

Amin H. Nasser said: “Over the past three years, Saudi Aramco has made great strides in developing our unconventional resources program, with emphasis on unconventional gas as an important clean energy source for the Kingdom’s future. Now, with this contract formalized today with Halliburton, we enter the important next phase of achieving our gas expansion objectives. Halliburton has been a reliable provider of products, services and technologies to our company for many decades. We welcome their expertise in unconventional resources, and we have great confidence in our joint ability to achieve operational and cost efficiencies for this important growth area.”

Saudi Aramco’s Unconventional Resources program spans three areas of Saudi Arabia: North Arabia, South Ghawar and Jafurah/Rub’ Al-Khali.

About Saudi Aramco

Saudi Aramco is a leading global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world.

About Halliburton

Founded in 1919, Halliburton (NYSE: HAL) is one of the world's largest providers of products and services to the energy industry. With over 55,000 employees, representing 140 nationalities in more than 80 countries, the Company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset.