Gazprom’s Oil Arm Signs Strategic Deal With Halliburton

MOSCOW, August 13 (RIA Novosti) – Gazprom Neft, the oil arm of Russia’s state-owned gas monopoly, has signed a strategic cooperation agreement with US energy services giant Halliburton to facilitate technological exchanges that will help increase production, the Russian company said Tuesday.

“One aspect of cooperation will be special technical seminars for employees of Gazprom Neft, with the aim of getting to know the main ways in which Halliburton uses its technology,” Gazprom Neft said in a statement posted on its website. “Some of the most important topics will concern work with tight oil reserves, unconventional resources and deep-water drilling.”

The agreement is the latest development in an increasingly close relationship between Russia’s Gazprom, which controls over 95 percent of Gazprom Neft, and the US contractor. Last year Halliburton signed a similar agreement with Gazprom International, the gas monopoly’s international arm, and in May last year Halliburton won a $95 million tender from Gazprom Neft to complete 12 wells being drilled by the company in Iraq.

A Gazprom Neft spokesperson told RIA Novosti on Tuesday that there was no link between the Halliburton-Gazprom Neft agreement and the Halliburton-Gazprom International one.

In the face of declining production at West Siberian fields, Russia is looking to begin the development of its offshore energy resources in the Arctic. Campaigners and ecologists have repeatedly warned that a rush to drill in Russia’s northern waters could cause potentially devastating accidents and ruin the pristine Arctic environment.

The spokesperson for Gazprom Neft said that deep-water drilling was only “one of the possible areas of cooperation” with Halliburton.

Full article: Gazprom’s Oil Arm Signs Strategic Deal With Halliburton (RIA Novosti)

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