Halliburton Company announced a multi-year contract from Eni S.p.A. on September 15 for the Cronos ultra-deepwater development offshore Cyprus. The award covers integrated drilling, well construction, automation, and completion services for exploration and development wells in Block 6 of the Cyprus Exclusive Economic Zone, including drilling fluids, directional drilling, LOGIX automation and remote operations, cementing, surface well testing, and coiled tubing. Contract value was not disclosed. The award follows Halliburton's second-quarter Europe/Africa revenue of $1.0 billion, up 19% sequentially, supported partly by well construction in Namibia and Egypt and completion-tool sales in the Mediterranean. In the same quarter, Drilling and Evaluation revenue rose 5% sequentially to $2.5 billion while segment operating income fell 4% to $338 million, which management attributed to a seasonal reduction in software sales.
Halliburton CompanyHalliburton won a multi-year Eni contract for integrated drilling, well construction, automation and completion services on the Cronos ultra-deepwater development offshore Cyprus.
Eni S.p.A.Eni awarded the Cronos development services contract to Halliburton, a procurement decision rather than a clear positive or negative for Eni itself.
