Rosneft Awards Halliburton Multimillion-Dollar Contract For Fracturing Services In Western Siberia

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December 10, 2007

Rosneft-YNG has awarded Halliburton’s (NYSE: HAL) Completion and Production Division a multimillion-dollar contract for the provision of hydraulic fracturing services for 317 oil wells in Russia’s Priobskoye Field in 2008. Located in Western Siberia on the banks of the Ob River, the field comprises 5,446 square kilometers (3,384 square miles.

“This is a very important win for Halliburton in Russia,” said Simon Turton, Halliburton’s country vice president for Russia. “With the Company’s renewed focus on the Eastern Hemisphere, Rosneft is a key customer for Halliburton, and we are proud that we were chosen to provide this major scope of work in such a competitive market.”

This area is environmentally sensitive and Rosneft will be relying on Halliburton to apply the technological advances to help minimize the operation’s environment footprint. In addition, access to the site is often difficult when the Ob River floods in the spring and summer, as 60 percent of the Priobskoye Field is located in the flood plains.

In 2007, Halliburton successfully completed construction of an operational facility base on the Ob River’s right bank and, hence, will be able to execute the project on the right bank from this newly constructed base. Operations on the river’s left bank will be supported from Halliburton’s base in Poykovskiy, which is approximately 100 kilometers (62 miles) away.

Turton continued: “With this win, we can continue to employ our technology, products and services to help Rosneft realize reduced cycle time and longer-term, more trouble-free production.”

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