Market Overview

Halliburton Wins Drilling, Completion and Testing Services Contracts for Woodside-operated Senegal Deepwater Project

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Woodside Energy (Senegal) BV awarded Halliburton Company (NYSE:HAL) nine conditional1 contracts for drilling and completion services for SNE Field Development Phase 1 offshore Senegal.

The drilling campaign, which is due to start in late 2020 or early 2021, is for drilling and completing 18 wells with up to eight optional wells over an estimated 3-4 year term. The contracts awarded include drilling, logging, cementing, lower completions, e-line/slick line, coiled tubing and well testing services.

"We are excited to win this work and to provide services from our multiple product service lines on what is likely to be the first deepwater oil development in Senegal," said Shannon Slocum, senior vice president of the Eurasia, Europe and Sub-Sahara Africa region for Halliburton. "In addition to our services, Halliburton will invest in Senegal through constructing facilities, hiring local staff and potentially utilizing local vendors/suppliers."

Initial engineering work will begin in Perth, Australia, later this year, and then will transfer to Dakar, Senegal in 2020.

This multi-contract award follows an earlier conditional1 award to Halliburton in December 2018 for drilling and completion fluids services.

About Halliburton

Founded in 1919, Halliburton celebrates its 100 years of service as one of the world's largest providers of products and services to the energy industry. With 60,000 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. Visit the company's website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

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1 Contracts are conditional on an SNE Field Development positive final investment decision (FID) and full funding release (FFR).

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