Saudi Aramco signed an unconventional gas stimulation services contract with Halliburton on May 27 to aid the company’s Unconventional Resources Program, according to a Saudi Aramco press release.
The company said in a statement that Halliburton has agreed to “provide lump sum turnkey stimulation services which include major hydraulic fracturing and well intervention operations”.
“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,” Amin H. Nasser, president and CEO of Saudi Aramco stated.
The Unconventional Resources Program aims to develop the production of unconventional gas to serve domestic needs and provide economic support for Saudi Arabia’s Vision 2030, Crown Prince Mohammed bin Salman’s long-term economic strategy.